The Georgia Small Business Credit Guaranty (SBCG) Program provides a 50% credit guaranty to the lender on loans up to $1,000,000. The maximum amount of the credit guaranty is $500,000.
There is an initial fee of a $200 processing fee, 1% of the guaranty amount for line of credit loans or a 2% of the guaranty amount for term loans up to 5 years. Fees are paid at time of approval.
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.