The Georgia Small Business Credit Guaranty (SBCG) Program provides a 50% credit guaranty to the lender on loans up to $400,000. The maximum amount of the credit guaranty is $200,000.
There is an initial fee of 2% of the guaranty amount in addition to an annual fee of .5% of the outstanding guaranty for each subsequent calendar year. Fees are due and payable within 30 days of each calendar year end. DCA reserves the right to adjust these fees as necessary.
SBCG is eligible for both term loans and line of credits. Corporations, partnerships, and sole proprietorships are eligible, as well as non-profits and cooperatives. SSBCI programs target an average borrower size of 500 employees or less, but the business may not exceed 750 employees. Business purposes include start-up costs, working capital, franchise fees, equipment, inventory, as well as the purchase, construction, renovation, or tenant improvements of an eligible place of business that is not for passive real estate investment purposes. SBCG works well with working capital line of credit loans.