Business start-up or expansion must result in the creation of permanent jobs.
Revolving Loan Funds can finance up to 33.3% of the total project cost.
Businesses must provide 10% (minimum) of the project cost in equity.
For every $20,000 from the Revolving Loan Fund, the borrower must create one full-time job or the equivalent of two
part-time jobs.
Fixed prime interest rates are available.
Loans are available up to ten (10) years.
Principals and business must be credit-worthy and generate sufficient cash flow to repay the debt.
Principals of the business must provide personal guarantees.
Hazard and key man insurance naming the Southwest Georgia Regional Commission as loss payee is required.
The borrower must pay for all legal costs associated with the transaction before loan closing.
The borrower must pay a one-time processing fee of 2.5% of the loan due at the time of closing and 1% closing
fee.
Businesses must be located in theBaker, Calhoun, Colquitt, Decatur,
Dougherty, Early, Grady, Lee, Miller, Mitchell, Seminole, Terrell, Thomas, or Worth Counties.
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