While there are no state grants available for small business start ups, there are many lending opportunities including your local banks. Here is Georgia’s list of traditional and alternative funding. For a complete guide to Georgia’s business and economic development funding resources, click here.
STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI)
Through the Small Business Jobs Act of 2010, Georgia has launched an effort that will encourage lenders to make loans to small businesses. Georgia offers three SSBCI programs within a performance-driven approach and you may inquire about these programs through your local banker:
GCAP- Georgia Capital Access Program - loan loss reserve fund for the lenders
SBCG - Small Business Credit Guarantee - 50% loan guarantee
Funding for CDFIs (Community Development Financial Institutions) - gap financing in participation with a bank
Strategic Industries Loan Program targets Georgia’s strategic industries and emerging or development-stage companies.
Micro Loans
Micro Lenders (PDF) provide small loans up to $35,000 for businesses with five or fewer employees, annual sales of less than $100,000. They target firms to which traditional sources of capital may be inaccessible.
Green Loans
Small businesses can start or expand an eco-friendly product or service or "green" an existing business. Green Loans also provide the "Save & Sustain" Program where small businesses can reduce energy use, increase profitability and operate with less impact on our environment. Also, you may qualify for Clean Energy Property Tax Credits up to 35% or $100,000 of the project cost.
innovative Entrepreneurs
Click here (PDF) for key networks and funding sources.
Rural Business Loans
Entrepreneur & Small Business Loan Guarantee Program provides new financial programs for entrepreneurs and small businesses in rural Georgia.
U.S. Department of Agriculture (USDA) Rural Development offers loan and grant programs to small and emerging businesses to create and retain jobs. They also provide technical assistance to communities.
Federal loan and grant programs
There are federally funded research and development grants through the U.S. Small Business Administration SBA’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs.
To help entrepreneurs grow their businesses and create jobs by increasing access to capital, the U.S. Small Business Administration (SBA) created a $1 billion Early Stage Innovation Fund which will provide matching capital to Small Business Investment Companies (SBICs).
Georgia's Regional Commissions offer small business loan assistance, gap financing that may include SBA 504, and 7(a) loans, Revolving Loan Funds, Rural Loan Funds and USDA Business & Industry Loans.
Appalachian Regional Commission is a federal-state partnership that works with the people of Appalachia to create opportunities for self-sustaining economic development and improved quality of life.
Export-Import Bank of the United States and the U.S. Small Business Administration (SBA) provides export loan guarantee programs for agriculture export.
Foundations in Georgia
Click here for links to various foundations and non-profit opportunities.
For complete financial assistance overview, click here.