The Georgia Environmental Finance Authority (GEFA) board of directors recently approved changes to the policy that governs GEFA's state and federal loan programs. The changes, as recommended by staff, are being implemented to help protect the long-term sustainability of the loan funding.

Unprecedented demand for infrastructure financing, rising construction costs, and historically low interest rates are a few factors in recent years that have put more stress on the loan programs, particularly the State Revolving Funds (SRF).

The following changes to the loan program policy well help ensure GEFA can continue to provide low-interest financing to communities that need it most.

• The per project limits have been updated for each loan fund.
• Georgia Fund - $8 million (previously $3 million)
• Georgia Fund emergency loan - $1 million (previously $500,000)
• Clean Water SRF - $12 million (previously $25 million)
• Drinking Water SRF - $10 million (previously $25 million)
• SRF loans will receive an interest rate reduction of 10 basis points (previously 50 basis points).
• Interest during the construction period will be 200 basis points higher than the amortized interest rate.
• The loan funds will have an annual funding limit available to distribute each state fiscal year. The annual limits will be approved at the May board meeting.

GEFA will be hosting a webinar to discuss these changes on Friday, March 22, 2024, at 10:00 a.m.

Click here to register

If you have any questions or feedback for GEFA staff, please contact us at waterresources@gefa.ga.gov.

Water Resources Division

Georgia Environmental Finance Authority