Georgia Green Loan Program

georgiagreenloansThis new loan program was developed to promote eco-friendly, “green” business initiatives. Businesses seeking to become more energy efficient in their operations are encouraged to apply.

Use of Funds:

Loan funds can be used for any purpose related to environmental concerns: retro-fitting for sustainable utilities, energy-efficient renovations, attainment of LEED certification, implementation of recycling programs, purchase of environmentally friendly products for use or retail sale, etc.

Rate/Term/Fees*:

Each application will be considered on the basis of the company’s unique financial needs. The maximum loan is $50,000.

  • Interest rates ranging from 4% - 8% (determined by source of funds)
  • The repayment period will be determined on a case-by-case basis not to exceed ten (10) years.
  • Borrower is also responsible for closing costs and normal filing fees.

*Rates and terms are subject to change

Not Eligible:

  • Non-profit organizations
  • Consumer and marketing cooperative
  • Business dealing in the creation, origination, expression or distribution of ideas, values, thoughts or opinions.
  • Specialty stores primarily engaged in selling products that promote or advocate ideas, specialized delivery, distribution or transportation concerns limiting themselves to distribution of “ineligible materials.”
  • Refinance of existing debt
  • Refinance or purchase of real estate

Collateral/Security:

Collateral (or security) will be determined on a case-by-case basis. Potential borrowers should know that SBAC is legally bound to secure each loan with sufficient collateral, to include personal assets. If assets are purchased, a first lien will be obtained. Personal guarantees of the principal owners of the small business concern will be required.

HOW TO APPLY

Obtain a loan application:

  1. Apply Online
  2. Download the Application (PDF format) and return completed form by fax to (912) 232-0385
  3. Contact the SBAC by Phone at (912) 232-4700
  4. Visit the SBAC Office: 111 E. Liberty Street, Suite 100 – Savannah, GA 31401

SBAC will process all loans in the order that applications are received.

The Georgia Green Loans was founded by Appalachian Community Enterprises, Inc.