Small Business Loans In Georgia
The small business landscape in Georgia is a world away from places like New York or California. Life here moves slower, but it’s defined by politeness you won’t find anywhere else. Folks here often do deals here on a handshake (we still advise getting everything in writing, though.)
In Georgia, it is easy to meet contacts and strike up business relationships. Atlanta, Georgia’s biggest city, combines the hospitality of the Deep South with an infectious go-getter mentality. However, you’ll eventually get the point where you’ll need small business loans in Georgia to take things to the next level.
Below, we’ll introduce you to the best business lenders in Georgia. These players are legit and focus exclusively on Georgia small businesses. Unlike the banks, they process loans quickly, have greater acceptance rates, and are transparent. It doesn’t matter whether you’re after small business loans in Atlanta, Georgia, or small business loans in Macon, Georgia, they have exactly what you need.
Best 3 Lenders in Georgia
Additional Business Loan Options in Georgia
On top of our list presenting the best business loans for small businesses in Georgia, which is focused on online, quick, lending for the most part, there are also local business lenders and business loan brokers available in Georgia. Read our short reviews below:
Georgia Small Business Capital (ga504.com) is a small business lending institution that has provided loans to small businesses in the Atlanta area for over 30 years. Georgia Small Business Capital offers a variety of loan products including working capital loans, equipment loans, and real estate loans.
Small Business Access Partners (sbaploans.com) is a non-profit organization that provides loans and business coaching to small businesses in the state of Georgia. They have provided over $225 million in loans to small businesses, and their services include SBA loans, business plan development, financial analysis, and marketing assistance.
Access to Capital for Entrepreneurs (ACE) (aceloans.org) is a non-profit organization that provides loans and business counseling services to small businesses in the Atlanta, Georgia area. ACE has provided over $145 million in loans to small businesses, and offers a variety of loans like SBA, commercial, loans prioritized for minority and female-owned businesses.
The Georgia Certified Development Corporation (gacdc.com) is a non-profit organization that specializes in providing loans to small businesses in the state of Georgia. The organization has provided over $100 million in loans to small businesses since its inception and offers a variety of services like loan refinancing, equipment financing, land and real estate acquisition financing.
First Liberty (firstlibertyga.com) is a financial company that offers small business loans and other services to businesses in the United States. First Liberty has landed over $1 billion in loans for businesses across the country. The company offers a variety of services including working capital loans, equipment financing, and lines of credit.
Fairview Commercial Lending (fairviewlending.com) is a company that specializes in loans for small businesses. The company has its headquarters in Atlanta, Georgia, and offers a variety of services to its clients. These services include business credit counseling, business loans, and merchant cash advances.
StreetBridge Business Loans (streetbridgebusinessloans.com) is a business loan provider that offers loans of up to $5 million. The company has its headquarters in Atlanta, Georgia, and is able to provide funding to businesses in all 50 states. StreetBridge has a simple online application process and offers fast approval times. Funding can be used for a variety of purposes, including invoice factoring, merchant cash advance, and real estate investment.
Flipside Capital (flipsidecapital.com) is a commercial lending company that offers loans to small businesses. The company has its headquarters in Atlanta, Georgia and offers loans of up to $5 million. Flipside Capital offers a variety of services including invoice factoring, SBA loans, working capital, and many more.
Georgia Small Business At A Glance
In the Deep South, Georgia stands above its peers. In 2019, it boasted a GDP of over $625 billion. That figure puts it in ninth place nationally and 28th best in the world. How has Georgia managed to outpace neighboring states like Alabama and South Carolina?
Since the days of the Civil War, Atlanta sat in a strategic location on supply routes. Ever since it has served as the Southeast’s premier business center. In the present day, it is home to thriving finance, manufacturing, logistics, professional services, technology, and media companies.
Atlanta’s status as a hub city fuelled growth in the 20th century. In the past 50 years, multiple airlines made Atlanta their southeastern hub. Why? Because this city sits within a two-hour flight of 80% of America’s population. Consequently, Hartsfield-Jackson International Airport has become the busiest airport in the country.
Elsewhere in the state, agriculture (mainly, peanut and peach production), aggregate mining, and tourism (e.g., Savannah, Hilton Head Island, etc.) are other significant industries.
While companies like Home Depot and Coca-Cola are commonly associated with Georgia business, SMEs are the ones that keep the state running. 99.6% of them meet the SBA definition of a small business, and they employ 43.2% of the state.
However, they don’t have the cash reserves that major corporations have. So, it’s a good thing that business loan broker Georgia assists with cash shortages they might have. Thanks to them, small business loans in Georgia are relatively easy to access.
Why Do Entrepreneurs Need Small Business Loans In Georgia?
There’s no question that it’s easier to build a successful small business in Georgia. Atlanta, a dynamic business center, allows for wealth inflows that are much greater them elsewhere in the South.
However, high levels of economic activity also correlate with higher rents. In 2019, commercial rents in Midtown peaked above $50 per square foot for the first time. While that’s much cheaper than markets like New York, it isn’t exactly cheap either.
So, when the economy takes a nosedive, SMEs can find themselves in a tight spot. Fortunately, there are plenty of business lenders in Buckhead and elsewhere in Georgia that can help. They offer small business loans in Georgia for bad credit, as well as conventional loans.
In good times, small businesses also need business financing Georgia. Sometimes, a company’s product or service blows up overnight. As a result, they have demand they can’t fill – so they need money for infrastructure improvements. Thankfully, there is plenty of small business funding Georgia – getting the best deal is all that matters.
The top business lenders in Georgia issue more approvals in less time. How do they do this? Thanks to automated processes that analyze risk quickly, they can help SMEs while staying profitable. Often, you can get approval in less than 24 hours. Scroll to the top of this page, and you’ll find a list of the best business loan broker Georgia.
Grants & SBA Lenders Available To Georgia Small Businesses
When small businesses succeed, Georgia’s economy succeeds. It’s that simple. So, to ensure that the latest Home Depot or Chick-Fil-A gets off the ground, the state government has incentives available.
Grants, tax credits, favorable loans – they are all meant to help startups power through the dip. In that vein, we’ve listed some of Georgia’s best small business grants and incentives below.
- The Creative Industries Loan Fund offers low-interest loans with flexible repayment terms to creative entrepreneurs in the Atlanta area. Successful applicants can secure loans of $5,000 to as much as $100,000. Applicants can use funds for product/prototype development, film production, marketing sales, distribution, etc. Applicants must show how they will create jobs and put up intellectual property as collateral.
- Opportunity Zone State Tax Credits are incentives meant to stimulate business activity in certain parts of the state. If you create a business that nets two additional jobs in these zones, you can qualify for tax credits of $3,500 per job produced.
- The Phoenix Fund provides SMEs with small business loans in Georgia at affordable rates. Applicants can acquire loans of $10,000 to $100,000, so long as they create one job per $35,000 lent. Interest rates are low, as they are set at 1/2 of prime plus 2% (minimum 4%). Repayment time ranges from three to fifteen years.
- The Atlanta Advantage Loan Fund offers revolving loans that locate in low-income neighborhoods. Established industrial businesses in manufacturing, distributing, and services (excluding finance businesses, tanning salons, and liquor stores) are eligible. Loans of $1,000,000 to $3,000,000 are available at rates of 4%-8% are available.
Are you in the market for an SBA loan instead? This form of business financing Georgia offers the most flexible terms for new business owners. These small business loans in Georgia are popular, as the Small Business Administration backs them up. Knowing this, financial institutions are happy to offer these SBA small business loans in Georgia.
Business lenders in Georgia that offer SBA loans include:
- Wells Fargo
- United Midwest Savings Bank
- Cadence Bank
- Metro City Bank
Thanks in large part to the prowess of its capital city, Georgia is among the most powerful economies in America. While the Coca-Colas of the world play their role, Georgia’s one million small businesses are the real stars.
Their financial health is priority number one. That’s why SMEs in the state have excellent access to small business loans Georgia. Business lenders in Georgia, from Macon to Savannah, ensure these enterprises have access to the money they need.
If you require business financing Georgia, head to the start of this guide and check out a recommended broker.