A Message From Grace Fricks, President and CEO

Dear Business Owners,

All of us at ACE have been monitoring the rapidly evolving COVID-19 situation, and we wanted to share the steps we’re taking to keep our staff, borrowers, partners and communities safe. We recognize the severe dislocation occurring in the small businesses and communities we serve, and we are in active discussions with our clients,  government and corporate partners to implement relief efforts.

Since the pandemic, ACE has been working non-stop on outreach to our portfolio of clients to find out how they are being impacted, anticipated future impact and what they see as solutions/temporary steps to help them survive and sustain. We have had tremendous response and will continue reaching out.

I want to encourage all business owners to hang in there!  As entrepreneurs, you have worked hard and created something from nothing – you have that spirit that will bring you through this adversity! We will get through this together!

For Our Existing Loan Clients

At this time, we strongly encourage you to look at the SBA Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program (PPP) as sources of relief for your business.  Please see the information below on those programs or contact your ACE loan officer for further questions.

Initially, we have reached out to all of our 300+ borrowers and offered a one-month loan payment deferment, if desired, and gained insight into how we can provide further assistance to their small business.

For CURRENT ACE SMALL BUSINESS CLIENTS with a balance less than $50,000 and have not spoken with someone from ACE, please complete the short application and we will be in touch within 72 hours.

We are working with our larger loan clients to design individual solutions to provide relief during this time. If you are a COMMERCIAL LOAN CLIENT (balance more than $50,000) of ACE, please contact us at 678-335-5600 to discuss your loan.


To ensure the health and safety of our clients and staff, ACE is being proactive by making a few adjustments to our regular business practices. Until the end of April, all of our training programs will be presented by webinar and individual consultations will be done by telephone or videoconferencing. This includes activities for the ACE Women’s Business Center and Business Advisory Services. Please visit our Upcoming Events section for updates on classes and schedules.

Additional Resources

Please Apply Quickly for the SBA COVID-19 Relief Programs – Limited Availability

We want to provide you with valuable information on two SBA COVID-19 Relief Programs available to small businesses: The Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL).

We urge you to review the information and APPLY QUICKLY to take advantage of these programs (with the SBA for the Economic Disaster Loans or with your bank for the Payment Protection Program).

Paycheck Protection Program (PPP)

Loans up to $10M, 2-year term @ 0.5% interest, available through June 30, 2020. SBA will forgive loans if the borrower spends eligible funds during the 8-week period (after disbursement) and there is not a reduction in employment. Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

Small businesses and sole proprietorships can apply beginning Friday, April 3rd. Independent contractors and self-employed individuals can apply beginning Friday, April 10th. If you are interested in applying, please contact your bank immediately to see if they will be participating in the program.

More Information for the Borrower HERE

U.S. Chamber of Commerce Small Business Guide & Checklist HERE

Download Application HERE

Economic Disaster Loan Program (EIDL)

Up to $2M with $10k upfront to cover expenses while you wait for a loan decision on the EIDL, up to 30-year term @ 3.75% for for-profit companies and 2.75% for non-profits.

More Information for the Borrower HERE

Apply Directly with the SBA HERE

If you applied more than 2 days ago, you need to re-apply to be considered for the $10k – you will not lose your place in line for the loan.

How Do You Decide Which Program is Right for You? 

Do you need:

  • Capital to cover the cost of retaining employees? Then the Paycheck Protection Program
  • A quick infusion of a smaller amount of cash to cover you right now?  You might want to look into an Emergency Economic Injury Disaster Loan (EIDL)

Here’s another helpful document that talks about BOTH programs. – Get The Small Business Owners Guide to the CARES Act HERE

Do You Still Have Questions?

If you have questions after reviewing this information, please contact your ACE loan officer (if you are an existing loan client) or our ACE Women’s Business Center for further assistance.Contacts – you may email or reach them at (678)335-5600.

Bonita Doster (doster@aceloans.org) or ext. 124
Sandy Headley (headley@aceloans.org) or ext. 108
Zab Mendez (mendez@aceloans.org) or ext. 129
Vonda Echols (echols@aceloans.org) or ext. 123
ACE Women’s Business Center (acewbc@aceloans.org) or ext. 120

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