Small-business owners in Chattooga County who need financing for equipment, inventory or operating expenses may be eligible for assistance through a nonprofit lender serving Northwest Georgia.

The Georgia Department of Economic Development identifies Access to Capital for Entrepreneurs, commonly known as ACE, as a community development lender serving Chattooga County.

ACE provides financing and business advisory services to help qualifying Georgia businesses expand, purchase equipment, maintain operations and create jobs.

One of the organization’s lending programs offers microloans ranging from $15,000 to $50,000.

To qualify for that program, a business must be a Georgia-based, for-profit enterprise that has operated for at least two years and meets the lender’s other eligibility requirements.

The program advertises a fixed interest rate of 7.75%, with repayment terms of up to 60 months. Applicants should also be aware of a $100 application fee and a 3% loan origination fee.

Loan proceeds may be used for working capital, inventory, equipment and vehicles.

ACE also offers other commercial lending programs and business advisory services. The organization is a certified Community Development Financial Institution, serving entrepreneurs who may face barriers to obtaining traditional financing.

These are loans that must be repaid, not grants, and approval is subject to the organization’s lending requirements.

For more information, business owners may contact ACE at 678-335-5600 or visit aceloans.org.

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