What is the difference between the State Revolving Fund (SRF) and the Georgia Fund program?
The SRF loan program is a federally-funded loan program which receives its funding through the US Environmental Protection Agency. Because of the federal funding source there are certain environmental and planning requirements that are added to the project approval process. These requirements may add time to the planning and paperwork to the process, but in-turn the interest on SRF funded projects is much lower than other programs. The SRF loan programs charge a 2% closing fee on the loan amount borrow whereas the Georgia Fund does not change a fee. The Georgia Fund loan program is a state-funded loan program. Funds for this program come directly from the sale of General Obligation bonds by the state of Georgia. The environmental and planning requirements on this program have been reduced to provide for a very quick turn-around on projects.