The purpose of the Equity Fund is to provide a program of financial assistance that includes grants, loans and any other forms of assistance authorized by (O.C.G.A.50-34-1 et seq.) to finance activities that will assist applicants in promoting the health, welfare, safety, and economic security of the citizens of the state through the development and retention of employment opportunities in areas of greater need as defined by the Georgia Business Expansion and Support Act of 1994, as amended (O.C.G.A.48-7-40).
Eligible recipients of grant and loan funds include general-purpose local governments (municipalities and counties), local government authorities and joint or multi-county development authorities in rural counties suffering from high poverty rates. Subrecipients should be a for-profit entity. Financial underwriting of a sub-recipient company is required. All applicants are urged to consider using Equity Fund monies only when other funding is not available or not sufficient to address project needs. OneGeorgia Equity should be viewed as funding of last resort when no other public or private funding is available. Click for the official eligibility map.
Grant and Loan Amounts
Award limits are based on the number of counties supporting a particular project:
- One County – Maximum of $200,000 per project
- Two Counties – Maximum of $300,000 per project
- Three or more – Maximum of $500,000 per project
Projects relating to water and sewer infrastructure, road, rail and airport improvements, industrial parks, workforce, technology, and tourism.
Funds for public activities require local investment and must demonstrate potential return on investment impact.
Funds for business growth are made at 3% interest at 5-7 years for Machinery and Equipment and 20 years for Real Estate. Loan funds for speculative buildings are made at zero percent interest with a five year deferment; however, a marketing plan and local investment are required.