| Maximum Loan: |
Up to $150,000 our portion ($250,000 in
some instances).
Projects can be as large as $500,000. |
| Funds Available: |
$5,600,000 |
| Eligible Area: |
Business must be in the following counties in East Central
Georgia: Bulloch, Burke, Columbia, Emanuel, Glascock,
Hancock, Jefferson, Jenkins, Johnson, Lincoln, McDuffie,
Richmond, Screven, Taliaferro, Warren, Washington, and
Wilkes. Business with an Augusta or Martinez mailing
address are not eligible because those areas are not defined
as rural by USDA. See our Resource Fund instead. |
| Who is the Lender: |
CSRA Business Lending is the lender. Funds come from
a funding partnership CSRA has with the U.S. Department
of Agriculture, Rural Development Agency to make businesses
loans in rural communities. |
| Purpose: |
Can be used for most purposes including land, building,
equipment, inventory, working capital, vehicles, and business
acquisitions. |
| Structure: |
Typically we like participating with a bank. Typical
structure is Bank 45% in a first mortgage or lien, CSRA
Business Lending 45% (up to $250,000) in second mortgage
or lien. Business usually has to put down 10%. |
| Down Payment: |
Usually the minimum is 10% down. |
| Collateral: |
Determined by CSRA’s loan committee. Usually project
collateral stands as collateral for healthy expanding
businesses. |
| Terms/Rates/Fees: |
Rates usually determined by CSRA’s loan committee.
1% fee charged on all loans. |
CONTACT
Randy Griffin at 706-210-2010 (rgriffin@csrardc.org)
or Diane Masters at 706-210-2011 (dmasters@csrardc.org)
CSRA BUSINESS LENDING
3023 RIVER WATCH PARKWAY, SUITE A
AUGUSTA, GA 30907
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• CSRA
Business Lending now makes SBA-504 loans throughout Georgia.
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• Due to several
recent payoffs we have over $300,000 available in our Rural Loan Fund.
Click on Rural Loan Fund for info.
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• SBA 7(a)
Program maximum $2,000,000, maximum guarantee $1,500,000. Visit www.SBA.gov
for more info.
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