SAVANNAH — The Small Business Assistance Corp. is offering loan programs for small businesses in Long County, as well as 40 other rural counties in Southeast Georgia.
The USDA Rural Microentrepreneur Assistance Program provides access to capital in order to boost small business development, create jobs and strengthen rural communities.
The maximum loan amount is $50,000 with a fixed interest rate of 8 percent with terms up to 10 years. Funds may be used for working capital; purchase of furniture, fixtures, supplies, inventory or equipment; debt refinancing; business acquisitions; and purchase or lease of real estate, with qualifying conditions.
The SBAC offers eight other loan programs with loan amounts from $2,500 to $5.5 million.
The SBAC is a specialized, nonprofit business development organization licensed by the U.S. Small Business Administration and supported by the city of Savannah, the U.S. Department of Housing and Urban Development and the U.S. Department of Agriculture to promote economic growth. Since 1989 the SBAC has been offering loan products in Savannah, Southeast Georgia and Lowcountry of South Carolina.
For more information, call Debra Simmons at 232-4700, email to email@example.com or go to www.sbacsav.com. The SBAC is an equal-opportunity lender, provider and employer.