The City of Alma Revolving Loan Fund was established primarily for the creation and retention of jobs within the City of Alma. The City of Alma is not a loan institution and does not come under banking regulatory acts. Please read over the application's loan guidelines, loan terms, and make sure all required information is included before submitting the application.    

Please click here to view the Revolving Loan Fund Guidelines.

Please click here to obtain a Revolving Loan Fund application.

Loan Process

Each applicant is required to fill out an application along with the form allowing one of the local banks in Alma to conduct a credit history report. Once the information has been completed, it must be submitted to the City Manager in the City of Alma's Administrative Office. The City Manager will then call a meeting of the City of Alma Revolving Loan Fund Committee. The committee has the expertise to recommend the approval or deny any loan request based on an individual's ability to repay the loan amount and meeting the loan requirements. If the loan is recommended for approval by the RLF Committee, a letter is then presented from the Chairperson to the City Council at the next regular scheduled City Council meeting. The City Council then takes final action to approve or deny the loan. A letter is then written by the City Manager notifying the applicant of the decision. If the loan is approved, the letter will also establish a date for execution of all the loan documents and/or other information, which will be required for the loan closing.

Revolving Loan Fund Committee
1. Kenny Wade
2. John Lott
3. Mike Wheeler
4. Betty Varnadore
5. Jerry Turner
6. Jay Williams

Please contact the City Administrative Office at 912-632-8072 with any questions regarding the Revolving Loan Fund.