Purpose

The Small Business Assistance Corporation is a USDA Micro-Enterprise Development Organization that has been selected to administer the Rural Micro-Entrepreneur Assistance Program. This program provides access to capital in order to boost small business development, create jobs, and strengthen rural communities.

Use of Funds

  • Working capital
  • Purchase of real estate inventory
  • Supplies
  • Furniture and fixtures
  • Raw materials
  • Machinery and equipment.

Maximum Amount

Each application will be considered on the basis of the company’s unique financial needs. The maximum loan amount is $150,000.

Rates/Term

  • The rate is set at Prime + 2% APR with a floor of 6%
  • The repayment period will be determined on a case-by-case basis not to exceed fifteen (15) years.

Eligible Businesses

  • A sole proprietorship located in a rural area in the state of GA and Beaufort, Charleston, Colleton, Dorchester, Hampton, and Jasper Counties in SC.

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All information is subject to change without notice.