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Life Sciences Facilities Fund

There is no maximum loan amount, although generally the loan amount may not be more than 15% of the fixed-asset needs of the company�s Georgia location. A recommended loan amount should be included in a letter of support from a state agency or organization whose statutory or organizational powers and duties include community and economic development or the enhancement of Georgia�s technology sectors (such as GDEcD, GRA, ATDC, Regents, etc.). Final approval of loan amounts is at the discretion of DCA.. All loan repayments shall be recaptured by DCA in the program fund to be available to future eligible borrowers and to cover administrative costs of the program.

What Is It?

The Atlanta Development Authority markets the Life Sciences Facilities Fund managed by the Georgia Department of Community Affairs. The purpose of the fund is to provide loan assistance for the purchase of fixed assets to assist with the expansion or relocation of emerging or development-stage life-science companies targeted by Georgia. Applicants should be development-stage companies that are creating commercially promising technologies and higher quality jobs.

How Does It Work?

The Atlanta Development Authority applies on behalf of the company to the Georgia Department of Community Affairs. Applicants may apply at any time they have a viable project. The Atlanta Development Authority serves as a conduit for the loan funds. The Facilities Fund is intended to be used when needed to fill a financing gap that is unmet by the private sector (including venture capital, angel or institutional investors, traditional commercial financing, developer financing, etc.) and/or to provide an inducement for the expansion of life sciences companies within the State.