Areas Served: City of Savannah
Program highlights The SDRA helps facilitate a number of financial assistance programs targeted towards business in the greater downtown area and along the Martin Luther King Jr (MLK)/Montgomery Street Corridor in Savannah, Georgia.
Facade Improvement Loan Program SDRA’s Façade Improvement Program (FIP) was designed to support the rehabilitation of the exterior of commercial properties and mixed-use commercial properties along SDRA’s targeted corridors the Broughton Street Urban Redevelopment Area and Martin Luther King, Jr.
Boulevard (MLK)/ Montgomery Street Corridor.
The program is unique in that it allows property owners to access up to $30,000 at a fixed interest rate of 4%.
Although each loan has an 8 year repayment term, eligible façade improvement projects may qualify for a one to three year deferment in repaying the loan depending upon location.
Certain restrictions apply.
Facade Improvement Grant Program SDRA’s Façade Improvement Grant Program is offered for commercial properties located within the Martin Luther King, Jr.
Boulevard (MLK)/ Montgomery Street Corridor.
The Façade Improvement Grant is a matching grant providing up to $2,000 for eligible properties to make improvements to building facades.
Certain restrictions apply.
Design Assistance Program SDRA’s Design Assistance Program (DAP) plays a critical role supporting the redevelopment efforts of the business and property owners of the Martin Luther King, Jr.
Boulevard (MLK)/ Montgomery Street Urban Redevelopment Area.
Eligible participants receive free assistance with designing, planning, and implementing redevelopment activities that are in keeping with the MLK/ Montgomery Street Corridor Urban Redevelopment Plan and Revitalization Plan goals.
This program is a vital resource for applicants who are in need of assistance with developing conceptual strategies for mixed-use sites, vacant lots, and large-scale site plans.
Certain restrictions apply.
Sprinkler Cost Assistance Program SDRA’s Sprinkler Cost Assistance Program (SCAP) has played a vital role in attracting tenants to SDRA’s primary redevelopment corridorsthe Broughton Street Urban Redevelopment Area and Martin Luther King, Jr.
Boulevard (MLK)/ Montgomery Street Corridor.
The program allows applicants to obtain financial assistance to support the installation of fire suppression systems within the upper stories of their properties or in new infill construction.
Funds are issued through the City of Savannah’s Water Enterprise Fund at a fixed interest rate of 4%.
Unlike many conventional loans, all Sprinkler Cost Assistance funds are repaid through the tenant’s water bill which is issued by the City of Savannah on a bi-monthly basis.
Certain restrictions apply.
Edge Grant Program SDRA’s Edge Grant Program is offered for properties located within the Martin Luther King, Jr.
Boulevard (MLK)/ Montgomery Street Corridor.
The Edge Grant is a matching grant providing up to $2,000 for eligible properties to support buffering improvements to vacant lots and parking lots including landscaping, parking lot improvements and fence installation.
Certain restrictions apply.
Greater Downtown Retail Improvement Loan The Greater Downtown Retail Improvement Loan is offered by the Small Business Assistance Corporation in partnership with SDRA for businesses located within the boundaries of River to Victory Drive and from West Boundary to General McIntosh; and along MLK and Montgomery from the River to 52nd Street.
Eligible uses of funds include inventory, payroll, merchandising, advertising, and working capital to sustain or expand daily operations.
The loan is offered at a 5% fixed interest rate, amortized over a 5 year period.
Certain restrictions apply.
Contact InformationSavannah Public Development Bureau
Address: 6 E Bay Street
City: Savannah
State: Georgia
Website:
http://www.savannahga.gov/1589/Small-Business-Loan-Programs
Leave a Reply