Community Advantage is a guarantee loan program available through SBA for designated non-profit lenders, such as SBAC.
Use of Funds
Funds can be used for most any business purpose.
Negotiated Variable or Fixed Rate
Real Estate: 25 years max.
Machinery and Equipment/ Working Capital: 10 years max.
Maximum Loan Amount
For-profit businesses in the City of Savannah, 53 counties in Southeast GA, and Beaufort, Charleston, Colleton, Dorchester, Hampton, and Jasper counties in SC.
Exluded businesses include:
- Non-profit organizations
- Consumer and marketing cooperatives
- Business dealing in the creation, origination, expression or distribution of ideas, values, thoughts, or opinions. i.e. patents
- Specialty stores primarily engaged in selling products that promote or advocate ideas, specialized delivery, distribution or transportation concerns limiting themselves to distribution of “ineligible materials.”