Governor Brian P. Kemp announced Tuesday that the Georgia Environmental Finance Authority (GEFA) is providing its borrowers a payment deferral period of six months.
“To help local governments impacted by COVID-19, I directed GEFA to provide a six-month payment deferral period to all of its current borrowers,” said Gov. Kemp. “During this unprecedented time, the payment deferral will offer some needed relief as we continue to restart our economy.”
Loans in repayment will have a six-month payment deferral and construction interest will not accrue for six months on projects currently under construction. The deferral period will provide a temporary relief of approximately $68 million in loan repayments for more than 330 borrowers.
GEFA is committed to protecting the financial health and wellbeing of its borrowers and the customers they serve. The deferment is an effort to support local governments as they manage decreased revenues and support customers who may be unable to pay their utility bills as a result of the impact of COVID-19 on businesses and families.
GEFA’s water and sewer financing programs offer low-interest financing for drinking water, reservoir and water supply, water quality, stormwater, and solid waste infrastructure.