The Business Loan Specialists. 

September 2010 Newsletter

Header Forsyth Fence
 
KarlBohnstedt
Chairman's Message...
Still Lending...
 
You may hear that small business loans are 'just not happening'. The opposite is true at the SBAC. With SBA 504 loan program rates at 4.62% on a 20-year debenture, we are actively helping entrepreneurs and small businesses achieve their goals.

We encourage you to visit the many small businesses in your neighborhoods. They are creating jobs, inventing new products and creatively finding a solution to everyday problems. The SBAC is proud to be a part of their many success stories.

Karl Bohnstedt, Chairman
Small Business Assistance Corporation
Loan got Jazz'd Tapas Going
 

RanchoAlegre

Swank, sexy and sophisticated industrial chic, Jazz'd Tapas remains one of the hot spots in nightlife and dining in downtown Savannah.  It seems like they've always been downstairs serving us great food, memorable martinis and the varied live music acts to round off the perfect evening. However, just 8 years ago Savannah-ians had never experienced an evening at Jazz'd.

 

In 2002, Brian & Julie Curry had reached in an impasse. They found the location, had the business plan, but needed the working capital to launch. Their banker, Walter Bowden, advised them to visit the SBAC. He believed they would be able to put the pieces together and get this ambitious couple open for business.  Brian said, "Walter was a different banker. We were not the best looking prospects on paper, but he had this unshakable belief in me as a customer and businessman."  Walter Bowden was right. The team at the Small Business Assistance Corporation in conjunction with the City of Savannah used funding from the Business Loan Guaranty Program.


The Business Loan Guaranty Program assists Savannah businesses to obtain financing under the City of Savannah's CDBG Revolving Loan Fund. The Small Business Assistance Corporation makes a business loan directly available to qualified borrowers. Priority is given to businesses located in low to moderate income neighborhoods, minority owned businesses and businesses that will create jobs for low to moderate income persons. Funding is eligible for working capital, land and building, machinery, equipment, furniture, fixture or inventory acquisition, renovation of current facilities, or payment of accounts payables.


"Jazz'd was a new concept for Savannah. Brian and Julie had years of restaurant management experience and were savvy entrepreneurs. We knew it would be a business to benefit the City of Savannah for years," stated Stephen George, Vice President of the SBAC.

 

Brian makes it clear that being a restaurant owner is "24/7 and rarely if ever the glamour people might think it is. "This is your lifestyle. I am owner, maintenance man, counselor and more. I know to the penny how much we make from every dollar. I have to know. Just a 1% change in a few areas can make all the difference."

SBAC presents at the Federal Reserve
The SBAC spoke on September 9th at the Federal Reserve Bank in Atlanta for the GMEN Conference: "Small Business Rejuvenation: The Role & Impact of Micro Finance".

Tony O'Reilly, SBAC President, Jamie Chisolm, VP at The Heritage Bank and Chris Dana, COO at Coastal Solutions represented the Savannah area to the 75 bankers/lenders present.

"It was an opportunity to highlight the varied programs and ways regulators and bankers can assist small business in today's market," stated Tony O'Reilly. "Chris Dana and Jamie Chisolm are great representations of the way SBAC can collaborate with the banks & client."

Also in September, the SBAC will be present on a panel discussion in Waycross, GA on September 23rd at the South Georgia Small Business Conference.
 
In This Issue
Loan Got Jazz'd Tapas Going
SBAC presents at the Federal Reserve
Mark Your Calendars!
Mark Your Calendars! 

Lenders League
Wednesday, October 6th
4:30 p.m. to 6:00 p.m.
Toni Steakhouse
110 Eisenhower Drive, Savannah
Network, Meet Area Lenders and Stay Informed! 
 
Email your RSVP

Featured Presenter is BeComing Salon. Enter to win $50 gift certificate!  Must be present to enter & win.

2010 SBAC Annual Meeting
Wednesday, December 1st
11:30 a.m. to 1:30 p.m.

Savannah Station

What is the SBAC?
 
The SBAC is a is a specialized, non-profit business development organization licensed by the U. S. Small Business Administration and supported by the City of Savannah and the U. S. Department of Housing and Urban Development to promote economic growth.  Since 1989 the SBAC has been offering loan products in the City of Savannah, southeast Georgia and Low Country of South Carolina.
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Small Business
Assistance Corporation
111 E. Liberty Street, Suite 100
P.O. Box 10750
Savannah, Georgia 31412
Toll Free: 888.287.2137
Phone: 912.232.4700
Fax: 912.232.0385

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The SBAC is a is a specialized, non-profit business development organization licensed by the U. S. Small Business Administration and supported by the City of Savannah and the U. S. Department of Housing and Urban Development to promote economic growth. 
SBA           City of Savannah            USDA  
The Small Business Assistance Corporation is an equal opportunity lender, provider and employer.
 

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