Financing For Small Businesses Impacted by the Storm
What is the Storm Recovery Loan Program?
The Storm Recovery Loan Program is designed to provide immediate financial support to small businesses facing unexpected costs due to the effects of natural disasters in our area.
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Loan Program Additions
- No equity injection requirements
- Interest only payments until 2025
- No pre-payment penalties
- Eligible for business scholarships
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Who Is eligible?
For-profit businesses in disasters effected areas located in Southeast Georgia and the Lowcountry of South Carolina. Business must have been in operations prior to the storm to qualify
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Use of Funds?
Repairs, clean-up, and other expenses necessary for recovery including:
- Working capital
- Lease payments
- Payroll
- Inventory replacement
- Bridge loans for insurance claims
- and more
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What is needed?
- Current Business License
- 2 years of Personal and Business Tax Returns
- Current financial statements
- Written Statement of Impact and Need
- Personal guarantee for 20% or more ownership
- Lien on business assets
- Additional documents may be requested
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How to Apply?
Visit our website at sbacsav.com, select “Apply for a Loan” to complete the loan application. Create an account. Begin completing the loan application.
Note: Under “Referred By”, select “Storm Loan” in the dropdown menu to be considered for the Storm Recovery Loan.
Applicants may also benefit from additional loan programs.
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This loan program must be repaid according to the agreed terms; it is not a relief package or grant. Loan subject to credit approval.
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Meet the newest member of our team!
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Senior Loan Officer
SBAC is excited to welcome Nicole to our team. As a Senior Loan Officer, Nicole will be responsible for originating SBA 504 Loans (commercial real estate loans) in Georgia and South Carolina. Nicloe brings over 20 years of banking and lending experience to SBAC.
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Portfolio and Servicing Manager
The Portfolio and Servicing Manager (PSM) manages all aspects of the loan closing and servicing process, including the on-boarding of new loans, and modifications to existing loans, daily payments, escrow activity, secondary market loan sales, management of contracts, portfolio analysis, collections, delinquency, risk management, and year-end activities.
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National Association of Women in Construction
End of Year Awards + Inauguration Event
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This event recognizes members and friends of NAWIC Coastal Georgia. With the End of Year Awards and Keynote Speaker: Victoria Saxton, SBAC President and CEO
Tuesday, September 24, 2024
3:30 PM–5:00 PM
The Clyde Venue
223 Martin Luther King Jr Boulevard, Savannah, GA 31401
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Business Education and Events from our Resource Partners:
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How To Build Influence With Customers, Partners and Your Team
Presented by our resource partner, The Creative Coast
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SBAC is excited to host The Creative Coast August Lunchtime topic with Steve Curran of Khaki Consulting LLC on why mastering healthy, effective influence is crucial for success and growth.
Free registration; see details below!
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Savannah Entrepreneurial Center:
9:30 AM–10:30 AM | August 23, 2024 | Cost: Free
801 East Gwinnett Street, Savannah, GA, 31401
SCORE Savannah:
10:00 AM | August 28, 2024 | Cost: Free
Pooler Chamber of Commerce:
8:30 AM–9:30 AM | Sept. 10, 2024 | Cost: Member - $10.00, Non-Member - $15.00
Best Western Premier Airport,103 San Drive Pooler, GA 31322
Savannah Area Chamber of Commerce:
3:00 PM–7:00 PM | September 12, 2024 | Cost: Free
Kehoe Ironworks Building. 660 E. Broughton St., Savannah, GA 31401
Small Business Developement Center (Savannah/Statesboro):
9:00 AM–12:00 PM | September 24, 2024 | Cost: $69.00
316 E. Bay Street, Savannah, GA, 31401
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