Business

Georgia”s Leader in SBA 504 Funding for Small Business

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For small businesses and entrepreneurs who are seeking to expand their business by purchasing or constructing an office building, manufacturing facility, or other physical location, GA Resource Capital (GRC) is the answer.

Headquartered in Metro Atlanta, GRC began operations in 2004 and has quickly risen to be one of the top U.S. Small Business Administration (SBA) lenders in Georgia. GRC is licensed as a Certified Development Company (CDC) to deliver the 504 Loan Program, which is used for the purchase or construction of land, building, and/or equipment by an eligible small business. It is designed to encourage economic development in a community by giving small businesses access to the same long-term, fixed-rate financing that larger businesses have through the bond markets.

“The SBA 504 program was developed as a tool to create jobs and stimulate economic growth,” said Tim Souther, Executive Director of GRC. “We provide second mortgage/lien loans on commercial real estate and equipment projects for small businesses, taking the risk off of the banks by lessening their loan to value and giving more options to entrepreneurs who may not have other financing options due to current economic conditions or inability to qualify for traditional financing.”

GRC is the top-ranked CDC in Georgia, posting the largest 504 program dollar volume for the past three years (FY2011-2013). GRC currently has 27 projects representing $72.3MM in total project dollars in Gwinnett, including medical offices, hotels, gas stations, restaurants, car washes, manufacturers, and professional offices.

In addition, over the 10 years GRC has been involved in the 504 program, their projects have resulted in the creation of over 3,000 jobs in Georgia. According to Souther, what really sets GRC ahead of the competition is its ability to make things happen.

“Our knowledge and experience with the SBA 504 program is extensive,” Souther explained, “which enables us to be creative and get a project done when others might say “no” or claim that the project doesn”t qualify. We know all the ins and outs of what”s eligible and what”s not and we have relationships with almost every commercial lender in the state, from big banks to community banks, rural area options to non-bank lenders. This allows us to be creative in structuring the financing and in making a project eligible for SBA financing.”

But SBA programs and lending expertise is only part of what sets GRC apart from its competition. According to Business Development Officer Matt Eicholtz, making sure that the loans are structured correctly, approved, and funded is only part of GRC”s mission.

“We strive to be a liaison to the Small Business community and get the word out about options that are available to service the needs of borrowers and lenders,” Eicholtz said. “”Our goal is to make sure that all lending options are being explored. We want borrowers and lenders to be comfortable with the SBA process and realize that they aren”t confined to conventional financing structures.”

Business Development Officer Deborah Possick Herron, CPA, adds that the final piece of the puzzle is the trust lenders have in GRC due to their unmatched expertise.

“Our role is to partner with the banks and educate the borrowers so they can make an informed decision,” she explains. “In addition, we are actively involved throughout the entire loan process. There are so many details in the SBA program, and our bank partners rely upon us to be the experts. We own the SBA 504 process and set ourselves apart by making sure we stay on top of the knowledge and changes in the program. Our lending partners and borrowers know that every loan we work on together will be done right.”

GRC specializes in building, equipment and land purchases, as well as financing for renovation, expansion and new building construction. If you are in need of financing for your small business, contact Tim, Matt, or Deborah of GRC at 770-205-9800 or online at www.GAResourceCapital.com.

For more information, visit www.GAResourceCapital.com