Georgia Green Loan Program
This loan program was developed to promote eco-friendly, or, “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, such as retro-fitting for sustainable utilities, energy-efficient renovations, attainment of LEED certification, implementation of recycling programs, purchase of environmentally friendly products for use, retail sale, etc.
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
- 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 (or security) will be determined on a case-by-case basis. Potential borrowers should know that the 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 in one of four ways:
- Apply Online
- Download the Application (PDF format) and return completed form by fax to 912.232-0385
- Contact the SBAC by phone at 912.232-4700
- Visit the SBAC Office: 111 E. Liberty Street, Suite 100, Savannah, GA 31401
The SBAC will process all loans in the order that applications are received.
The Georgia Green Loans was founded by Appalachian Community Enterprises, Inc.