Small Business Assistance Corporation | The Business Loan Specialists

If you’re like me, you wonder about odd things when you’re driving through southeast Georgia. Things like: who changes the blinking lights on those signal towers? Who maintains them? Does someone have to climb those towers to change the signal bulbs ensuring aircraft safety? Read More »

Did you know that you can find the inspiration to open a small business while eating frozen yogurt at Walt Disney World? For Stacy Kurko, new proprietor of Menchie’s Eisenhower Square..that’s exactly what happened. The Kurko family took a spring break Read More »

Being back on West 52nd Street is a homecoming for Shannon McAdams of Echelon Studio & Boutique. She began her career in the same storefront when it was Chris’ Coiffures as a shampoo girl. Miss Chris encouraged Shannon to pursue her cosmetology degree and use her natural talent for hair and welcoming personality to make the ‘after school job’ a career. Read More »

Swank, sexy and sophisticated industrial chic, Jazz’d Tapas remains one of the hot
spots in nightlife and dining in downtown Savannah. It seems like they’ve always
been downstairs serving us great food, memorable martinis and the varied live
music acts to round off the perfect evening. However, just 8 years ago Savannah-
ians had never experienced an evening at Jazz’d.

In 2002, Brian & Julie Curry had reached in an impasse. They found the location,
had the business plan, but needed the working capital to launch. Their banker,
Walter Bowden, advised them to visit the SBAC. He believed they would be able
to put the pieces together and get this ambitious couple open for business. Brian
said, “Walter was a different banker. We were not the best looking prospects on
paper, but he had this unshakable belief in me as a customer and businessman.”
Walter Bowden was right. The team at the Small Business Assistance Corporation
in conjunction with the City of Savannah used funding from the Business Loan
Guaranty Program.

The Business Loan Guaranty Program assists Savannah businesses to obtain
financing under the City of Savannah’s CDBG Revolving Loan Fund. The Small
Business Assistance Corporation makes a business loan directly available to qualified
borrowers. 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. Funding is eligible for working capital, land
and building, machinery, equipment, furniture, fixture or inventory acquisition,
renovation of current facilities, or payment of accounts payables.

“Jazz’d was a new concept for Savannah. Brian and Julie had years of restaurant
management experience and were savvy entrepreneurs. We knew it would be a
business to benefit the City of Savannah for years,” stated Stephen George, Vice
President of the SBAC.

Brian makes it clear that being a restaurant owner is “24/7 and rarely if ever the
glamour people might think it is. “This is your lifestyle. I am owner, maintenance
man, counselor and more. I know to the penny how much we make from
every dollar. I have to know. Just a 1% change in a few areas can make all the
difference.”

How did the small yellow house on Posey Street transform and expand to become Rancho Alegre, the downtown ‘hot spot’ for Latin American cuisine? Melody & Juan Rodriguez believe it is their determination, experience, a strong team of people and the right financing program.

After looking for years downtown, they seized the opportunity brought by the economic downturn to find a lower cost space, that with a little polish and Latin American flair, would fulfill the missing culinary niche for downtown diners. “We have surrounded ourselves with great people. Everyone contributes their strengths; from finances/contracts to menu items or the basic repair & maintenance needed on the older structures downtown,” stated Melody. “It was a well-thought out, planned decision. We just needed the financing to make it happen.”

Their personal banker, Michelle Michaels at SunTrust bank recommended they visit the Small Business Assistance Corporation to look at the MLK Special Purpose Program* for businesses on MLK & Montgomery Streets. This loan program, through the City of Savannah, assists with the expansion and development of small business enterprises for this transitioning area of downtown Savannah. Debra Simmons, Community Development Officer with the SBAC, remembers meeting with Mr. & Mrs. Rodriguez, “It was a perfect fit for Rancho Alegre. This loan program is so flexible in its use. From land, building or equipment acquisition to the furniture and fixtures or working capital, it gives a business like Rancho Alegre the flexibility to achieve everyone’s goals.”

When asked her top tips for businesses moving or starting up downtown, Rancho Alegre owner, Melody Rodriguez recommends: do a business plan, surround yourself with a team of experts, check the commercial zoning where you want to do business and most of all “come out to MLK. It is becoming a marvelous new place for all small businesses.”