Capital Resource for Expanding and Start-Up Businesses
MICRO LOAN FUND AND REVOLVING LOAN FUND
Easy pre-application process
Let us know you are interested in applying.
Our preapplication process is straightforward and hassle-free, allowing you to take the first step towards securing the funds you need with minimal effort.
We will guide you through the next steps and help you understand the best loan options for your business.
Got Questions?
Beka Shiver -
Economic Development & Transportation Planning
Is My business Eligible ?
"Is Your Business Start-Up or Expansion Creating Permanent Jobs?
Review the Guidelines and Requirements for Funding Eligibility."
Pre-Application
Loans are made for any amount between $5,000 - $100,000
GUIDELINES
- Borrower must be the user of loan proceeds.
- Business start-up or expansion must result in the creation of permanent jobs.
- RLF can finance up to 33.3% of the total project cost.
- Businesses must provide 10% (minimum) of the project cost in equity.
- For every $20,000 from the RLF, borrower must create one full-time job or the equivalent of two, part-time jobs.
- Fixed prime interest rates are available.
- Loans available up to ten (10) years.
- Principals and business must be credit-worthy and generate sufficient cash flow to repay the debt.
- Principals of the business must provide personal guarantees.
- Hazard and key man insurance naming Southwest Georgia Regional Commission as loss payee is required.
- Borrower must pay for all legal costs associated with the transaction before loan closing.
- Borrower must pay a one-time processing fee of 2.5% of the loan due at the time of closing and 1% closing fee.
- Businesses must be located in Baker, Calhoun, Colquitt, Decatur, Dougherty, Early, Grady, Lee, Miller, Mitchell, Seminole, Terrell, Thomas or Worth Counties.