In today's economy, a small business may need help, but in some cases cannot qualify with a bank as in the past. Georgia's small businesses can still apply for a micro loan at certified lenders in the state. These loans are available from $500 to $35,000. And rates vary upon credit and market risk.
In northeast Georgia, they are available through Appalachian Community Enterprises in Cleveland.
The loan funds can be used for the expansion of an existing business or for the creation of a start-up business. In addition, the funds may be used for working capital as well as for the purchase of equipment or inventory. They cannot be used for personal expenses or solely for debt consolidation. Loans are now available in all Georgia counties.
There are five SBA Micro Lenders in Georgia that cover the state.
They are:
Albany Community Together
Counties served: Baker, Bibb, Calhoun, Chattahoochee, Clay, Colquitt, Crawford, Crisp, Decatur, Dooly, Dougherty, Early, Grady, Harris, Houston, Lee, Macon, Marion, Meriwether, Miller, Mitchell, Muscogee, Peach, Pike, Quitman, Randolph, Schley, Seminole, Stewart, Sumter, Talbot, Taylor, Terrell, Thomas, Troup, Upson, Webster, Worth. www.albanycommunitytogether.com
ACE Loans
Counties served: Baldwin, Banks, Barrow, Bartow, Butts, Carroll, Catoosa, Chattooga, Cherokee, Clarke, Clayton, Cobb, Columbia, Coweta, Dade, Dawson, DeKalb, Douglas, Elbert, Fannin, Fayette, Floyd, Forsyth, Franklin, Fulton, Gilmer, Gordon, Greene, Gwinnett, Habersham, Hall, Hancock, Haralson, Hart, Heard, Henry, Jackson, Jones, Jasper, Lamar, Lincoln, Lumpkin, Madison, McDuffie, Monroe, Morgan, Murray, Newton, Oconee, Oglethorpe, Paulding, Pickens, Polk, Putnam, Rabun, Richmond, Rockdale, Spalding, Stephens, Taliaferro, Towns, Union, Walker, Walton, Warren, White, Whitfield and Wilkes. www.aceloans.org
Atlanta Micro Fund
Counties served: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fulton, Gwinnett, Henry, Newton and Rockdale counties. www.atlantamicrofund.com
DeKalb Revolving Loan Fund
Counties served: Clayton, Cobb, DeKalb, Douglas, Fayette, Fulton, Gwinnett, Henry, Newton and Rockdale. www.debco.org
Small Business Assistance Corporation
Counties served: Appling, Atkinson, Bacon, Ben Hill, Berrien, Bleckley, Brantley, Brooks, Bryan, Bulloch, Burke, Camden, Candler, Charleton, Chatham, Clinch, Coffee, Cook, Dodge, Echols, Effingham, Emanuel, Evans, Glascock, Glynn, Irwin, Jeff Davis, Jefferson, Jenkins, Johnson, Lanier, Laurens, Liberty, Long, Lowndes, McIntosh, Pierce, Pulaski, Screven, Tattnall, Telfair, Tift, Toombs, Treutlen, Turner, Twiggs, Ware, Washington, Wayne, Wilcox, Wilkinson. www.sbacsav.com
For more about SBA financing in Georgia visit:
www.sba.gov/ga.
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http://accesswdun.com/article/2010/6/230210