APPLY FOR A LOAN

 

 

ACE's new program, Georgia Green Loans, is available for businesses seeking to "green-ovate." To learn more and to apply for a loan, see the Georgia Green Loans website.

Loan packages

 

Micro-loan

• Loans $500 to $35,000
• Qualifying businesses include existing and start-up (less than 6months operation) . Start-ups need an additional source of income.
• Loan purposes include purchase of equipment and inventory, leasehold improvement, start up costs, and working capital.
• Interest rate based on market and risk.
• 3.5% commitment fee
• Minimum Credit Score 550

 

Green Loan

• Loan purpose is either green-ovating an existing business or expansion or start-up of a green industry business (energy, environmental, organic).
• Loans $500 to $35,000
• Qualifying businesses include existing and start-up. Start-ups need an additional source of income.
• Loan purposes include purchase of equipment and inventory, leasehold improvement, and working capital.
• Interest rate based on market and risk.

 

How to Apply for a Loan

 

Thank you for your interest in an ACE loan for your business. Your time is valuable, so please read the steps below to ensure that you can complete the application.

 

Step 1: Find out if your business is in a county covered by ACE loans.

Micro-loan Coverage Map

 

Micro-loan: Baldwin, Banks, Barrow, Bartow, Butts, Carroll, Catoosa, Chattooga, Clarke, Columbia, Dade, Dawson, Elbert, Fannin, Floyd, Franklin, Gilmer, Gordon, Gwinnett, Habersham, Hall, Hancock, Haralson, Hart, Heard, Jackson, Jones, Lamar, Lincoln, Lumpkin, Madison, McDuffie, Monroe, Murray, Paulding, Pickens, Polk, Putnam, Rabun, Richmond, Spalding, Stephens, Taliaferro, Towns, Union, Walker, Warren, White, Whitfield, and Wilkes

 

Step 2: Gather the information you will need to apply

 

The application process is simple. Apply on-line for an initial pre-approval and an ACE representative will contact you regarding your application. Once contacted you will then be asked to provide documentation to ACE by fax, mail, email or in person Once received it will be forwarded to underwriting for a final decision. How quickly the loan closes will depend on how complete the application is and how quickly we get full documentation.

 

Documentation you will need:

• Personal and business addresses and contact information
• Personal and business tax returns and bank statements
• Business income statement and balance sheet (if in business)
• Purpose of loan and information about planned use of proceeds
• Personal and business budgets and debt information
• Documentation of other forms of income
• If using a co-signer, their personal information
• References
• Pay stubs and proof of all income listed on application
• Start ups (6 months of operation or less) will need a business plan, financial projections, start up budget, and proof of equity

 

ACE has compiled a business resource page to help you complete your loan application. These resources include personal assistance and web-based information.