The Small Business Assistance Corporation is a USDA Micro-Enterprise Development Organization that has been selected to administer the Rural Micro-Entrepreneur Loan Program. This program provides access to capital in order to boost small business development, create jobs, and strengthen rural communities.
Use of Proceeds
- Working capital
- Furniture and fixtures
- Raw materials
- Machinery and equipment
- Most any business purpose EXCEPT Real Estate
Each application will be considered on the basis of the company’s unique financial needs. The maximum loan amount is $50,000.
- The current interest rate on this loan is 6.5%, fixed for the term of the loan.
- The repayment period will be determined on a case-by-case basis not to exceed ten (10) years.
- A sole proprietorship located in a rural area, in 48 GA counties.
- A business entity, located in a rural area, with no more than 10 full-time-equivalent employees and in need of $50,000 or less in business capital and/or in need of business based technical assistance and training.