ACE is a non profit micro enterprise lender and is certified by the U.S. Department of Treasury as a Community Development Financial Institution (CDFI). Our mission at ACE is to provide hope and opportunity for people to create financial freedom for themselves so that they can fulfill their dreams, create economic security for their families and contribute to their communities.

- ACE can pair you with a Micro Mentor at no cost
- ACE offers and provides access to a variety of financial education opportunities
- ACE offers business networking opportunities
- ACE offers our free monthly newsletter and features our clients
- ACE offers a vast array of resources and connections to assist entrepreneurs

- Make sure payments are available monthly through electronic funds transfer
- Provide annual financial statements
- Communicate with ACE
- Keep us informed ahead of time of any issues
- Share your stories with ACE
- Personal commitment
- Financial ability to repay
- Your personal character
- Commitment and motivation to improve your business
- Commitment and motivation to improve your credit
- Payment history with other creditors, landlords, suppliers, etc.
- Collateral
- Bankruptcy History
     Chapter 7 not allowed in last 2 years
    Chapter 13 not allowed in last year
-Startups must have an alternate source of income

- Gambling
- Adult Entertainment
- Investment Companies
- Investment/Real Estate Companies
- Pyramid or Multi Level Marketing Businesses

Any business located in the North Georgia Region

Our loan application is available on line. From our website, click the link to apply for a loan and follow the instructions.

- Financial ability to repay
- Your personal character
- Commitment and motivation to improve your business
- Commitment and motivation to improve your credit
- Payment history with other creditors, landlords, suppliers, etc.
- Collateral
- Startups must have an alternate source of income

Yes, we require a personal guarantee on all of our loans.

We make loans to start up businesses (client must have a source of income other than the start up business) and existing businesses.

A start up business is any business in operation for less than 6 months.

Our loans range from $500-$35,000 depending on credit approval.

The loan funds can be use for expanding an existing business, start up businesses, working capital and start up capital.

The loan funds can not be used solely to payoff personal debt or credit card debt or for personal expenses.

Yes, you will be asked to pledge some form of collateral such as house, land, car, inventory, equipment, utility trailer and any collateral being purchased with the loan funds.

ACE will also file a UCC1 blanket lien on the business assets, inventory, fixtures and equipment.

ACE needs to have something to secure the loan. This loan is not a grant, and if for some reason you cannot pay the loan, ACE will need to be repaid. Also, when you are willing to use whatever you believe is of value to you as collateral, it shows us that you are committed to your business. We want to see that you believe in yourself and your business enough to take some of the risk as well.

Interest rates vary and reflect the market rate and loan risk.

Our terms range from 3 months to 72 months, depending on the loan amount.

No, ACE does not have any pre payment penalties on our loans.

Our closing costs are 3.5% of the loan amount plus normal filing fees.

Documentation varies depending on the loan amount and whether it is a start up or existing business.

Here is a list of basic documents required:
- 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 is not only interested in lending you money, ACE is interested in the success of your business. The business plan process ensures that you think strategically about your business, your commitment to your business and your business goals.

The business plan need not be elaborate, but it must thoroughly describe the product or service, and the marketing, operation and management plans for your business. In addition to this written portion, it must also contain a financial projection of cash flow for one year as well as a balance sheet and income statement. Begin by following the business plan outline insert location of the biz plan outline here. If you need help with the plan and most people usually do see the small business resources list on this website.

Please visit our resource page on this website for templates to assist you. You may also contact a Small Business Development Center for assistance at www.sbdc.uga.edu.

The ACE 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.

ACE borrows most of its funding from banks, individuals and the federal government. ACE must repay its debts just as ACE borrowers do. ACE must rely on contributions to offer affordable business support services such as money mentors, financial education and networking opportunities.