Growth Fund Loan Fund

What is the Growth Fund?
The Athens-Clarke County Growth Fund is a gap financing program structured to support the growth of small businesses and job creation in Athens-Clarke County.

What is gap financing?
Gap financing is a financing tool used to fill in the gap between the equity that the borrower commits and the maximum loan amount that the bank is willing to offer.

The Growth Fund provides up to forty percent (40%) of the financing package, with the remainder coming from the borrower (at least 10%) and the financial institution.

What can the loan be used for?
Finance long-term fixed assets (ex: machinery, equipment)

Rehabilitation of real estate and associated improvements

Leasehold improvements

What can the loan not be used for?
Working Capital


Refinancing existing debt

How much money can I borrow?
Loans range from $10,000 to $150,000 depending upon the borrower’s/businesses needs.

What is the interest rate and loan term?

Prime or below prime interest rate

Loan terms average 5 years

Both the interest rate and the loan term are determined by the loan review committee based upon recommendations from the Growth Fund administrators.

Do I need a business plan and collateral for this loan?
Start-up businesses are required to have a completed business plan with financial


Each loan should be secured by collateral adequate to safeguard the fund’s investment.

Where can I get more information? 

The Growth Fund is administered by the Athens-Clarke County Department of Human and

Economic Development. To speak with our representative, call (706) 613-3155.

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