Starting Monday, September 15, 2025, our Wewahitchka office will be located in a temporary location (637 Highway 22) while our new headquarters office is constructed. We look forward to continuing to serve you during this transition. Thank you for your patience and support as we build a new, improved space...
Starting Monday, September 15, 2025, our Wewahitchka office will be located in a temporary location (637 Highway 22) while our new headquarters office is constructed.
We look forward to continuing to serve you during this transition. Thank you for your patience and support as we build a new, improved space for our members!
Same friendly staff, same reliable service - just across the street!
Gulf Coast Electric Cooperative’s Revolving Loan Fund (RLF) is a local pool of capital to promote rural economic development. The fund provides gap financing for start-up, expanding, and new businesses that attract new jobs or provide needed public health or social services. As borrowers repay their RLFs, the principal and interest is returned to the RLF to be loaned to other businesses to create additional jobs and stimulate the economy. Only financially strong businesses will be evaluated for this program, and they must also have a strong economic impact on the community. Gulf Coast Electric Cooperative (GCEC) will be very specific and only use this fund in cases where the business might offer our communities several jobs and help the local tax base, as well as have the business ability to repay the loan. We would like to encourage only financially strong businesses with detailed business plans to consider this program. GCEC reserves the right to reject any submittal to this program.
Attractive interest rate of prime or below
Local control of funds
Less red tape and quicker response to funding requests
Leverages funding from local financial institutions
Increases funds available to local businesses
Business ventures – corporations, partnerships, sole proprietorships, and cooperatives
Local governments or public entities
Non-profit entities
Tribal authorities
Industrial or commercial development
Small business expansion
Business incubators
Community infrastructure or facilities*
Medical facilities*
Training or educational facilities*
* Should provide permanent jobs in rural area
Acquistion or construction of commercial and industrial buildings and structures
Purchase of capitalized machinery and equipment with a useful life of 5 years or more
Acquisition of real property for economic development
Rehabilitation of deteriorated retail, commercial, and industrial buildings
Contact Michael White at (850) 265-3631 for pre-application materials, including:
Project description
Project impact
Business feasibility
Preliminary market data and market strategy
Preliminary financial feasibility
Identify management team
Preliminary timeline schedule
Management track record (including resumes)
Source and use of funds
Refinancing existing debt or payments to business owners or partners
Activities for investment purposes not directly related to job creation
General improvement loans for normal replacement needs of business and unrelated to job creation
Agriculture production costs (i.e. cultivation, production, harvesting)
Vehicles for general purposes or personal use
Projects without supplemental financing
Working capital with limited security
Residential construction projects
Illegal activities and/or legalized activities (e.g. gambling casinos) that, in the opinion of GCEC directors, adversely affect RLF interests
Projects in which any director, officer, general manager, supervisor or employee of GCEC, and/or close relative, owner, stockholder, partner, or director which would create a conflict of interest
Projects in which recipient of loan would, as a condition of loan approval, be required to purchase or lease any real property, materials, equipment, or services from GCEC, its subsidiaries, and/or affiliates
Projects or activities that pay salaries of any employee of GCEC, its subsidiaries, and/or affiliates
