Financing Available For Small Businesses Impacted by the Winter Storm Enzo
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 or loss of revenue due to the effects of natural disasters in our area.
Loan Program Additions
No equity injection requirements
Three months of interest-only payments
No pre-payment penalties
Eligible for business scholarship
Dollar Limit:$15,000
Term: Maximum 36 months
Rate: 7% Fixed
Who Is eligible?
For-profit businesses in disaster-effected areas located in Southeast Georgia and the Lowcountry of South Carolina. Business must have been in operations prior to the storm to qualify
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
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.
This loan program must be repaid according to the agreed terms; it is not a relief package or grant. Loans are subject to credit approval.
Keondra brings 20 years of extensive experience in accounting, finance, and management to SBAC. As the Senior Accountant, she will oversee the organization’s accounting functions and provide strategies to maintain its financial health. We are thrilled to welcome her to our team!
Celebrating Our Partnership with First Citizens Bank
We are excited to share that SBAC has received a $10,000 grant from First Citizens Bank to enhance our Credit Building Loan Program. This initiative helps small business owners build and strengthen their credit, paving the way for financial independence and success.
We thank First Citizens Bank and deeply appreciate their support and commitment to empowering communities. Stay tuned for updates on our progress and impact.[Read more...]
Small Business Spotlight
Emma Wagstaff and her family proudly own Pie Society, The British Pie Company, and have been honored as the 2024 recipients of SBAC's Michael Bunn, Sr. Memorial Rising Star Award. With the support of a 504 Loan, they successfully acquired their restaurant in Pooler, GA. Emma offers encouragement to new companies by sharing how they got started and her experience as an experienced restaurant owner.
Click the button to learn more about all SBAC loan programs.
SBAC Workshops:
Are you a contractor looking to level up your business? Sign up for our FREE Construction Industry Workshop Series led by industry experts.[Read more...]
Small Steps Workshop: Finance Your Business With SBAC
Grow your business with SBAC’s Small Steps Loan Program. Start small and achieve big success.
Join our workshop to explore SBAC's Small Steps Loan Program, designed to provide small businesses with incremental funding for growth. Learn how to leverage this opportunity for your business success.
This program provides:
Quicker funding
Low loan amounts and payments
Competitive interest rates
Business credit building
Potential business scholarships
When: Tuesday, February 18, 2025
Where:
In persron:
SBAC Conference Room
111 Ease Liberty St.
Savannah, GA 31401
Virtual:
In-person attendance is strongly recommended.
Time:12:00 pm to 1:00 pm
Cost: Free
Take advantage of this opportunity to boost your business to new heights!
Financing Available For Small Businesses Impacted by the Winter Storm Enzo
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 or loss of revenue due to the effects of natural disasters in our area.
Loan Program Additions
No equity injection requirements
Three months of interest-only payments
No pre-payment penalties
Eligible for business scholarship
Dollar Limit:$15,000
Term: Maximum 36 months
Rate: 7% Fixed
Who Is eligible?
For-profit businesses in disaster-effected areas located in Southeast Georgia and the Lowcountry of South Carolina. Business must have been in operations prior to the storm to qualify
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
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.
This loan program must be repaid according to the agreed terms; it is not a relief package or grant. Loans are subject to credit approval.
Keondra brings 20 years of extensive experience in accounting, finance, and management to SBAC. As the Senior Accountant, she will oversee the organization’s accounting functions and provide strategies to maintain its financial health. We are thrilled to welcome her to our team!
Celebrating Our Partnership with First Citizens Bank
We are excited to share that SBAC has received a $10,000 grant from First Citizens Bank to enhance our Credit Building Loan Program. This initiative helps small business owners build and strengthen their credit, paving the way for financial independence and success.
We thank First Citizens Bank and deeply appreciate their support and commitment to empowering communities. Stay tuned for updates on our progress and impact.[Read more...]
Small Business Spotlight
Emma Wagstaff and her family proudly own Pie Society, The British Pie Company, and have been honored as the 2024 recipients of SBAC's Michael Bunn, Sr. Memorial Rising Star Award. With the support of a 504 Loan, they successfully acquired their restaurant in Pooler, GA. Emma offers encouragement to new companies by sharing how they got started and her experience as an experienced restaurant owner.
Click the button to learn more about all SBAC loan programs.
SBAC Workshops:
Are you a contractor looking to level up your business? Sign up for our FREE Construction Industry Workshop Series led by industry experts.[Read more...]
Small Steps Workshop: Finance Your Business With SBAC
Grow your business with SBAC’s Small Steps Loan Program. Start small and achieve big success.
Join our workshop to explore SBAC's Small Steps Loan Program, designed to provide small businesses with incremental funding for growth. Learn how to leverage this opportunity for your business success.
This program provides:
Quicker funding
Low loan amounts and payments
Competitive interest rates
Business credit building
Potential business scholarships
When: Tuesday, February 18, 2025
Where:
In persron:
SBAC Conference Room
111 Ease Liberty St.
Savannah, GA 31401
Virtual:
In-person attendance is strongly recommended.
Time:12:00 pm to 1:00 pm
Cost: Free
Take advantage of this opportunity to boost your business to new heights!