City of Savannah Direct Loan Program

To assist Savannah businesses obtain financing under the City of Savannah’s CDBG Revolving Loan Fund, the Small Business Assistance Corporation provides 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.


  • Land and building acquisition
  • Acquisition of inventory
  • Renovation of current facilities
  • Payment of accounts payable
  • Acquisition of machinery and equipment
  • Business buyouts
  • Acquisition of furniture and fixtures
  • Working capital


  1. Loan Amount
    • Minimum Amount: None
    • Maximum Amount: $150,000 subject to availability of funds
  2. Collateral
    • Pledge of available assets (personal and/or business)
    • Personal guaranty
    • Security interest on business assets
  3. Term (fully amortized)
    • Up to ten (10) years
  4. Fees to Borrower
    • One and one half percent (1.5%) of the total loan amount must be paid to the SBAC by the borrower. The borrower may use the loan proceeds to pay the fee. In addition, the borrower is responsible for out-of-pocket expenses.


Businesses that meet the following SBAC criteria:

  • For-profit corporation, partnership, proprietors, or producer’s cooperatives.
  • Businesses operating in Savannah or planning to be located in Savannah.
  • Retention of existing employment and creation of new employment opportunities for low to moderate income individuals.
  • For every $35,000 of loan proceeds, a job must be created or retained for a low to moderate income individual (based on household income)


Loan “packaging” includes the following services:

  • SBAC staff will package pre-qualified loan applications to conform to current regulatory requirements and will ensure that the SBAC Loan Committee is given all the essential documentation and information needed to render a quick decision on the application.


All information is subject to change without notice.