Areas Served: Bulloch, Burke, Columbia, Emanuel, Glascock, Greene, Hancock, Jefferson, Jenkins, Johnson, Lincoln, McDuffie, Richmond, Screven, Taliaferro, Warren, Washington, and Wilkes counties.
Maximum Loan: Up to $150,000 our portion ($250,000 in some instances).
Project size can vary.
Eligible Area: Business must be in the following counties in East Central Georgia: Bulloch, Burke, Columbia, Emanuel, Glascock, Greene, 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.
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: 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 InformationCSRA Business Lending
Address: 3023 River Watch Parkway
City: Augusta
State: Georgia
Website:
http://www.csrabusinesslending.com/resource-loan.shtml
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