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This program is for the acquisition, construction and/or renovation of commercial land and buildings as well as the acquisition of long lived (20 year or longer) machinery and equipment. This program provides long term, fixed rate (typically below market) financing to businesses that will retain and/or create jobs in the state of Georgia and Beaufort, Hampton and Jasper Counties in South Carolina. Read more »
This program is the “common” SBA loan that can be used for any business purpose – working capital, inventory or equipment, refinance existing debt, or to purchase a business. A bank makes the loan, and the SBA provides a guarantee – up to $562,500. The maximum loan amount is $750,000. Read more »
If you are a business in our approved area (See Map) needing a small loan for most any business purpose, perhaps the MicroLoan Program is for you. The maximum loan is $35,000 and it may be combined with another bank loan for a total financing of $105,000. Read more »
The City of Savannah, in their effort to stimulate economic growth in the City, makes loans available to small business owners through SBAC. Priority is given to businesses located in low to moderate income neighborhoods, minority owned businesses and businesses that will create jobs for low to moderate income persons. Loan guarantees and direct loans are available.
This program is for small and minority business projects within the counties of Bryan, Bulloch, Chatham, Effingham and Liberty counties. It is for loan or investment requests that can not obtain funding from other reasonable sources. If your bank is BB&T, Bank of America, SunTrust or Wachovia, you can apply under this program. Read more »
This program is for businesses certified as minority or woman owned by the MBWE initiative. Eligible businesses may obtain short-term working capital loans to ensure the timely performance of contracts awarded to them. The maximum loan is $25,000 for the life of the contract or six (6) months whichever is less. An assignable contract with a two-party payee on draws is required. Read more »
The USDA program can be used for any business purpose – business acquisition, business construction, leasehold improvements, working capital, purchase of inventory, supplies, machinery and equipment, or furniture and fixtures. Operating in 13 counties in Southeast Georgia, (See Map) the maximum USDA loan is $150,000 and the loan funds must be shared with a local bank. Read more »
“Small Steps to Success” loan program is an ideal way for micro entrepreneurs to fund business projects or start-up that can start small and grow. This is a credit builder loan for those facing credit history issues, no collateral or little money to invest. Read more »
Savannah Development and Renewal Authority (SDRA) administers a facade loan program for buildings within the Broughton Street Urban Redevelopment Area and the Martin Luther King, Jr. Boulevard and Montgomery Street Corridor. The program is funded by the City of Savannah General Fund and Community Development Block Grant (CDBG) funds. The program provides loan funds to businesses or property owners to improve the façade of a building or to assist with infill construction. The program’s annual interest rate is 4%, with an eight-year amortization schedule. Loan limits range from $5,000 to $30,000 and are based on the size of the building. Any property owner or business tenant is eligible for the program provided that the property is being used for commercial activity. Other restrictions apply. Read more »
SDRA manages the Sprinkler Cost Assistance Program to meet building code requirements, protect historic structures, promote new infill construction, and to encourage upper-story use of older structures through the installation of fire suppression systems within the geographic boundaries of the program. Repayment is amortized over an eight year period with an annual interest rate of 4%. Funds are available on a first come, first serve basis. Other restrictions apply. Read more »
The Façade Improvement Grant Program is designed to assist property and business owners to enhance the appearance of street front facades. The program is funded by general funds from the City of Savannah and specifically focuses on properties located within the Martin Luther King, Jr. Boulevard/Montgomery Street Urban Redevelopment Area boundaries extending from Jones Street to 52 nd Street. The program provides a dollar for dollar match up to $2,000 for eligible facade improvements. Any property owner or business owner within the target area is eligible for the program provided the proeperty is being used for commercial activity, and the project meets the urban redevelopment goals for the area. Other restrictions apply. Read more »
The Edge Grant Program is designed to assist property and business owners enhance the appearance of vacant lots and existing parking lots. The program is funded by general funds from the City of Savannah and specifically focuses on properties located within the Martin Luther King, Jr. Boulevard/Montgomery Street Urban Redevelopment Area boundaries extending from Jones Street to 52nd Street. The program provides a dollar for dollar match up to $2,000 for elible edge improvements. Any property owner or business owner within the target area is eligible for the program provided the project meets the urban redevelopment goals for the area. Other restrictions apply. Read more »
The Savannah Development and Renewal Authority (SDRA) and the City of Savannah have created the Corner Store Program to assist property and/or business owners recreate the historic neighborhood corner store. Funding for the program can be used to restore or construct the facade of a mixed-use building which faces two intersecting streets and has a commercial use on the street level. A project is eligible for a maximum loan amount of $50,000. Funds will be distributed on a first approved, first funded basis at a fixed interest rate of 4% with a ten-year term. Incentive terms include allowing 15% of the loan be forgiven at 85% of repayment or at the tenth year of the loan, if terms and conditions are met. Of the loan amount, $2,500 can be used to reimburse architectural fees, predevelopment costs or design fees. Additionally, up to$10,000 of the loan can be used for roof repairs if the existing condition of the roof contributes to the overall substandard condition of the building. Eligible properties must be located within the Martin Luther King, Jr. Boulevard (MLK)/ Montgomery Street Urban Revitalization Area. Other restrictions apply. Read more »
The Design Assistance Program seeks to provide design consultation services to ensure that development and improvements are in keeping with the land-use strategies of the MLK/ Montgomery Revitalization Corridor; and to provide existing and potential property owners with an opportunity to participate in the corridor’s revitalization efforts. The program allows for property owners to receive free services from an experienced consultant while ensuring that redevelopment plans are created in keeping with City ordinances and land use policies. The program provides assistance to two participants per quarter at a threshold of $2,000 per project. Additional consideration will be given to full-block and larger-scale projects. Other restrictions apply. Read more »
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