Areas Served: Chattooga, Elbert, Floyd, Franklin, Gilmer, Hall, Haralson, Heard, Polk, Stephens, Jackson, Hart, Fannin, Carroll, Murray, Bartow, Gordon, Whitfield, Lumpkin, Banks, Madison, Dade, Habersham, Union, Barrow, White, Towns and Walker County.
The purpose of the RMAP program is to support the development and ongoing success of rural microentrepreneurs and microenterprises through low interest business loans.
USE OF PROCEEDS – Working capital – Purchase of real estate inventory – Supplies – Furniture/fixtures – Raw materials – Machinery and equipment.
MAXIMUM AMOUNT Each application will be considered on the basis of the company’s unique financial needs.
The maximum loan is $50,000. RATES/TERM/FEE – The current interest rate on the RMAP loan is 8%, fixed for the term of the loan.
– The repayment period will be determined on a case-by-case basis not to exceed ten(10) years.
– There is a 1.5% origination fee.
ELIGIBLE BUSINESSES – A sole proprietorship located in a rural area – A business entity, located in a rural area, with no more than 10 full-time-equivalent employees and are in need of $50,000 or less in business capital and/or in need of business based technical assistance and training.
Contact InformationAppalachian Community Enterprises, Inc.
Address: 3173 Hwy 129 N
City: Cleveland
State: Georgia
Website:
http://www.aceloans.org/site/apply/
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