State Small Business Credit Initiative (SSBCI) Loan Program

About SSBCI


Small Business Assistance Corporation is a Community Development Financial Institution (CDFI) that has been selected to administer the State Small Business Credit Initiative Loan Program in the State of Georgia. GA Funding for CDFIs is a loan participation program specifically designed to increase access to capital for Georgia’s underserved small businesses—particularly those which are minority or women owned, located in low to moderate income areas, those which employ low to moderate income individuals and businesses located in underserved communities. The CDFI program is a loan program whereby the state provides approved CDFIs with funds to make loans in partnership with a private lender. The SBAC can be in a subordinate lien position on project collateral.

Use of Funds

Business purposes which include but are not limited to:

  • Start-Up Costs
  • Working Capital
  • Business Procurement
  • Franchise Fees
  • Purchase of Inventory and Equipment
  • Building Purchase
  • Construction
  • Loan Refinance/Renewal
  • Renovation or Tenant Improvement of an Eligible Place of Business Located in the State of Georgia.

SSBCI Terms

Each application will be considered on the basis of the company’s unique financial needs. The maximum term for a working capital loan or a short term asset finance will be 10 years; for real estate the maximum term will be 25 years.

SSBCI Rate

Negotiated rate.

SSBCI Fees

There will be a one time 1% origination fee on the SSBCI loan amount and a $50 wire transfer fee charged per transaction.

Special Eligibility Notice

Passive real estate investment generally is not eligible. However, exceptions may apply based on owner occupancy — 60% for new con- struction, 51% for acquisition or renovation of existing building.

Collateral/Security

Collateral requirements will be determined on a case-by-case basis. Personal guarantees of the principal owners of the small business concern will be required.

Please contact us for more details or visit our loan application page to get started today!