One of the primary functions of the Oconee County Industrial Development Authority (OCIDA) is to serve as a financing mechanism in support of economic development projects. Through the issuance of industrial revenue bonds, the OCIDA can assist in the development of a financing structure that is most conducive to the business seeking to locate within the county. These bonds may have lower interest rates than conventional financing and have the potential to be financially beneficial to your company. The Authority has experience working a variety of deals, which is important due to the fact that no two projects are identical.
Small Business Administration
Many of our local banks partners offer loan participation through the Small Business Administration. This financing options takes risk away from the borrower and the lender, giving small businesses favorable terms that may not exist in traditional commercial lending. For more information about the Small Business Administration loan programs, visit their website to see how you can take advantage of their programs.
Georgia State Small Business Credit Initiative
Very similar to the Small Business Administration grants, the Georgia State Small Business Credit Initiative (SSBCI) is a funding source that allows banks to partner with the State of Georgia on commercial loans. Options range from a loan guarantee program to a loan participation option. Please visit the SSBCI website to learn more about their loan programs.
Oconee County economic development staff is available to discuss potential funding mechanisms for specific projects. Feel free to contact the Economic Development Department to explore all of your options.