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Banking & Finance

Sept. 27 - Small Business Assistance Corporation to Offer Zero-Interest Express Loan Post-Irma

Category: Banking & Finance

Savannah Business Journal Staff Report

September 27, 2017 - The Small Business Assistance Corporation (SBAC), a Community Development Financial Institution, recently announced it has up to $5,000 of financing available to businesses needing temporary capital to restore normal operations. Eligible uses include equipment repair and/or replacement, inventory replacement, bridge loan to insurance claim payment, and short term operating capital.  

The SBAC Zero-Interest Express Loan Program is for small businesses and microenterprises in the counties of southeast Georgia and South Carolina’s Lowcountry counties of Hampton, Jasper, Beaufort, Colleton, Charleston, and Dorchester. Qualified borrowers must be an existing business with a 2016 business tax return and a current business license.  

Up to $5,000 is available for a term of up to six months, with interest at a 0 percent rate. All loans are subject to availability of funds and prudent business lending practices. This program is sponsored in part by one of the SBAC’s banking partners, the Wells Fargo Foundation. 

For more information on the Zero-Interest Express Loan Program Program, contact the Small Business Assistance Corporation by email (This email address is being protected from spambots. You need JavaScript enabled to view it.'; document.getElementById('cloak10733').innerHTML += ''+addy_text10733+''; //--> ), phone (912-232-4700) or website (www.sbacsav.com). 

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