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Small Business Loans in Georgia (2021 Update)
You may find yourself in need of start-up financing for your business or simply some funds to boost your business. It is crucial that you make sure that fully understand the terms of payment for the lender you choose and whether the interest is fixed or not. There are lending institutions that have committed themselves to offering business owners and entrepreneurs small business loans in Georgia. It is important to ensure that the business is workable before you settle on a venture capital, SBA loan, or online lenders. Different lending firms in Georgia have different loan terms. You ought to look around for the best offer.
Georgia is one of the top states in the US which assists entrepreneurs and business owners to kick start and boost their businesses through small business loans. All you need to have is a workable business plan or an existing business that have the potential to be successful to qualify for a small business loan in Georgia. The state of Georgia has put in place lending laws that ensure small business owners are not excluded in regards to the lending of business loans. You will be granted a business loan for your business in Georgia as long as you have a good business plan.
There are many programs in Georgia that offer secured loans. There are private funding sources and small business grants offered to business owners to start-up their businesses. Private organizations or the local government offer small business grants to businesses in Georgia. You should prove that your reason for needing a small business grant in Georgia is good. The process of processing small business loans in Georgia is fast, efficient, and stress-free. The Georgia state offers assistance to small business owners through the traditional and online small business development centers.
Those who wish to find good lending firms in Georgia can look through the GDEcD (Georgia Department of Economic Development) for detailed information on business resources and help on how to come up with a good and acceptable business plan. You can also consult with an experienced loan expert who will walk you through the entire process of securing a small business loan. Small business loans in Georgia are defined as loans that range from $100,000 to $1,000,000.
It is possible and easy to secure working capital loans or a small business loan in the State of Georgia. You should consider taking one if you need to start a business or boost an already existing one. The lending firms in Georgia understand that every customer has their unique needs, so they will be able to serve you to suit your specific situation. They care about every client, and they do not discriminate.
Banks in Georgia That Offer Small Business Loans
For your small business funding needs, here are the best banks to get a loan from in Georgia:
Waycross Bank and Trust
Founded in 1988, Waycross bank and Trust is a privately held company that currently employs 25 people in aid of providing its banking products.
First National bank South
Established in 1950 by a group of investors in Bacon County, First National Bank South was named one of the nation’s top 100 micro-lenders before the turn of the century. Until today, it remains to be one of the top banks for small business loans.
Farmers State Bank
Granted charter on 05 January 1910 as The Cadwell Banking Company, Farmers State Bank was established in Laurens County and continues to serve the area for more than 100 years.
Bank of Dudley
Located in the Laurens County, The Bank of Dudley opened in November 1905 with $25,000 in total assets. It has since grown and now operates in Twiggs County and surrounding communities as well.
GB Bank Group, Inc.
GB Bank Group, Inc. opened on 13 March 1905 on the corner of Barnard and Caswell streets and has been operating in the same location for more than 100 years. Its network of bank divisions allows you to transact with any of its seven banks easily.
Offering personal and commercial banking services, Guardian Bank is headquartered in Valdosta and has been in operations since 2001.
Top Cities in Georgia and Their Lenders
Georgia is one of the South’s most famous states. Historically, the area was well-known for its agriculture. But recent modern trends have caused many of Georgia’s largest cities to diversify their economies. Much of the state is still rural, but there are a few major cities that have managed to diversify their interests. If you’re looking to start a new small business in Georgia, we suggest you stick to the top metropolitan areas. The top small business cities and their best lenders are provided below!
Atlanta is by far the most affluent city in the state of Georgia. The area has experienced a resurgence in recent years that has helped make it one of the top cities in the nation for your young people – it’s a great place to start a new business. Below are the lenders that we recommend in the city:
Georgia Primary Bank
Georgia Primary Bank specializes in working with small businesses. If you want someone who understands the small business market in Atlanta, this is most definitely the best lender to work with!
Citizens Trust Bank
Citizens Trust Bank is a large lender that has a significant presence in the Atlanta, Georgia region. If you want a financer that has the strength of a large institution, this is your best option in Atlanta.
Georgia Banking Company
Georgia Banking Company is a great choice for any Atlanta based business that is looking for real estate loans.
Columbus, Georgia is the second largest city in the state. Much of the local population is employed by the nearby Fort Benning – a US Army base in the area. If you’re thinking of starting a small business catering to the residents in the area, check out the following lenders:
Synovus is regional lender that has a physical presence in the Columbus, Georgia area. If you’re looking for a lender with local experience, this is one of your best options.
LiftFund is another lender that is popular throughout Georgia, although it must be said that this lender is only able to give microloans to small businesses. Regardless, they’re a quick and useful partner.
Augusta, Georgia is most famous for its golf course – it’s probably the most exclusive golf club in the world. But the city isn’t only for golfers, there are plenty of small business owners in the area. Below are the top small business lenders in Augusta:
CSRA Business Lending
CSRA Business Lending is the top local business lender in Augusta – they’re located right inside the city. They’re a great local partner to have.
Security Federal Bank
Security Federal Bank is another lender that has a large client base in Augusta. If you’re wanting to work with an experienced bank, this is your best option. They also offer other banking products and consumer services.
Macon is a city in Central Georgia that benefits from its historic roots. There are tons of interesting Civil War and Native American landmarks in the area. The city is well-known for its retail sector. If you’re thinking of starting a business in the city, use the lender below:
Capital City Bank
Capital City Bank is a regional lender with a branch in Macon, Georgia. They provide both consumer and commercial services. They’re perfect if you also want a lender that you can use for commercial banking services. We highly recommend them as a local partner in Macon – you don’t have many reputable options in the area.
Savannah is also a city that benefits from its historic roots – the area plays home to plenty of interesting Civil War locations. But Savannah is also known for its manufacturing industry, which has developed steadily since the decline of agriculture in the area. Below is the top lender for small business in Savannah, Georgia:
It can be hard to find large lenders with local offices in rural cities in Georgia. Fortunately, Savannah has Fidelity Bank. Fidelity Bank provides a range of different small business lending products that can help you take your operations to the next level. They also have traditional banking services – they’re a one-stop-shop for all your commercial banking and lending needs.
Athens is the home of the University of Georgia. Much of the local economy is driven by the college in the city’s center. If you want to start a business in Athens, we recommend you use the lender mentioned below:
First American Bank & Trust
Again, it can be hard to find a small business lender in a small city like Athens, but First American Bank & Trust can provide you with all the small business lending solutions you need. They’re experts at a range of different loans and lending products – we highly recommend using them if you’re opening a business in Athens.
Remember, some of these companies or banks are very specialized and may only handle SBA loans or a business line of credit. Ask them about any special programs for minorities or women. Also ask for information about business grants for startups if that interest you. If you bad credit don’t worry as there still may be other alternative lenders willing to work with you.