Areas Served: Burke, Columbia, Emanuel, Glascock, Hancock, Jefferson, Jenkins, Johnson, Lincoln, McDuffie, Richmond, Screven, Taliaferro, Warren, Washington, and Wilkes counties.
Maximum Loan: $150,000 our portion.
Projects can be as large as $500,000. Eligible Area: Business must be in the following counties in East Central Georgia: Burke, Columbia, Emanuel, Glascock, Hancock, Jefferson, Jenkins, Johnson, Lincoln, McDuffie, Richmond, Screven, Taliaferro, Warren, Washington, and Wilkes.
Who is the Lender: CSRA Business Lending is the lender.
Funds come from a funding partnership CSRA has with the Department of Commerce, Economic Development Administration.
Purpose: Can be used for most purposes including land, building, equipment, inventory, working capital, vehicles, and business acquisitions.
Structure: Typical structure is Bank 45% in a first mortgage or lien, CSRA Business Lending 45% (up to $150,000) 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 InformationCSRA Business Lending
Address: 3023 River Watch Parkway
City: Augusta
State: Georgia
Website:
http://www.csrabusinesslending.com/resource-loan.shtml
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