Community Foundation for Greater Atlanta’s GoATL Fund partners with lenders to connect small businesses to financing

GoGeorgia Capital facilitates access to growth capital 

ATLANTA, May 1, 2023 – The Community Foundation for Greater Atlanta, through its GoATL impact-investing arm, has launched an online platform called GoGeorgia Capital that simplifies the process of connecting marginalized small business owners to mission-focused capital across Georgia. To date, seven lenders participate in the online tool that allows entrepreneurs a one-stop platform to seek funding, with additional funders expected online in the next 12 months. 

GoGeorgia Capital is targeted to small businesses and nonprofits started and/or owned by entrepreneurs who are Black, indigenous or people of color, or who work in marginalized communities and struggle to access traditional loans. Funding is available for a wide range of purposes that support businesses from the startup phase to the growth stage. Funders that have signed on to the platform are mission-oriented, community funders that are open to lending to these entrepreneurs who often serve the same neighborhoods and residents, partnering to build communities together. Each lender provides its own terms and loans through the platform, and their products tend to be more flexible than those from more traditional financial institutions.  

“We are working across industries, from tech start-ups and nonprofits to retail, to support small business,” said Kayla Jones, GoATL Economic Inclusion Fund manager at the Community Foundation for Greater Atlanta. “These businesses too often experience challenges with accessing the funding they need to bolster their growth. A tool like this has not existed before in Georgia and we are grateful to the partners who have helped us bring it to life.” 

GoGeorgia Capital, powered by Community Reinvestment Fund’s Connect2Capital tool, is a strategic partnership with a variety of mission-aligned lenders from around the state, including Access to Capital for Entrepreneurs (ACE), Albany Community Together (ACT!), Black Business Investment Fund (BBIF), LiftFund, Local Initiatives Support Corporation (LISC) and TruFund. The platform includes a simple pre-application form where entrepreneurs specify the amount of funding they seek and the purpose of those funds. An algorithm connects business owners to potential funders that have indicated what types of businesses and/or loans they are open to supporting. In turn, the small business owners reach out to those funders with a specific inquiry, saving countless hours pursuing lenders that are not likely to approve financing.  

Qualified businesses must have operations in Georgia, have at least one full-time employee and must secure a business license prior to funding. For business owners who may not meet initial loan qualifications, GoGeorgia Capital can connect them to technical assistance partners who can advise on how to become capital ready and present a stronger funding application. The GoGeorgia Capital platform is free, and easy to access. Interested parties from Georgia can simply visit the link and fill out the embedded pre-application form, which takes around 10 minutes to complete. 

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About the Community Foundation for Greater Atlanta 

The Community Foundation for Greater Atlanta inspires and leads the Atlanta region toward equity and shared prosperity for all who call it home. TogetherATL is the Foundation’s strategic ethos, working through a collaborative approach with community stakeholders, donors, nonprofits and others to examine complex challenges the region faces and create solutions that build a thriving region. Started in 1951, the Community Foundation shepherds approximately $1.4 billion in current assets through its 1,000+ donor funds, while simultaneously raising and deploying more than $120 million annually to thousands of nonprofit organizations. It is Georgia’s second largest foundation.  

About the GoATL Fund 

Launched in 2018, the GoATL Fund provides innovative and flexible capital designed to scale and sustain social solutions of critical importance to our community. Started with an initial allocation of $10 million from the Community Foundation for Greater Atlanta, the GoATL Fund expanded in 2022 to encompass three funds focused on specific needs within metro Atlanta – affordable housing, economic inclusion and community capacity. For more information visit: cfgreateratlanta.org or connect with the Foundation via Facebook, Instagram, LinkedIn and Twitter. 

Media Contact: 

Nichole Owens, 770.383.2307 

nowens@cfgreateratlanta.org 

Pictured: Renegade Golf