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smallbiz_financial_assistance

Financial Assistance

While there aren’t typically any state grants available for small business start ups, there are many lending opportunities including your local banks. Below 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)
Georgia has launched an effort that will encourage lenders to make loans to small businesses offering three programs within a performance-driven approach that include a loan loss reserve fund, a 50% loan guarantee and gap financing. To learn more, visit the State Small Business Credit Initiative website.
STRATEGIC INDUSTRIES LOAN PROGRAM
Strategic Industries Loan Program targets Georgia’s strategic industries and emerging or development-stage companies.
FEDERAL GRANTS FOR RESEARCH AND INNOVATION
The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization. The Small Business Technology Transfer (STTR) is another program that expands funding opportunities in the federal innovation research and development (R&D) arena.
MICRO LOANS/CDFI
Micro Lenders provide small loans up to $50,000 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. These lenders, or Community Development Financial Institutions (CDFI) have lending portfolios that offer many different small business loans.
SBA Microlenders/CDFI Coverage Map ▶

  • The Georgia Micro Enterprise Network (GMEN) is a non-profit industry association and through its network of business development training and lending organizations, GMEN serves as a resource to support and fund viable micro-businesses in an effort to create new jobs and business opportunities at the local level.
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.
ANGEL INVESTOR TAX CREDIT
The Angel Investor Tax Credit program is designed to encourage investment in specific Georgia startups.  Click here for more information.
COMMERCIAL CASH FLOW MANAGEMENT
NOWaccount Network Corporation allows you to improve cash management, eliminate risk of customer non-payment and offload accounts receivables processing and collections.
FEDERAL LOANS AND GRANTS
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 ▶

 

Mary Ellen McClanahan

Mary Ellen McClanahan

Director

404-962-4820

More About Georgia Benefits

Georgia’s industry-specific Project Analysts are available to help you with a wide range of business needs:

  • Site and building services
  • Location data
  • Community contacts and facilitation
  • Cost environment analysis
  • Coordination with state agencies

Fortune Favors the Peach