Best Business Loans in Georgia

Loans for Georgia small businesses are available from local CDFIs, banks and credit unions, as well as online lenders.

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Written by Olivia Chen
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The state of Georgia is home to 1.2 million small businesses, accounting for 99.6% of all businesses in the state, and nearly half of all Georgia employees.

To support this thriving small-business economy, many nonprofit and local lenders, banks and government programs aim to increase capital access to Georgia business owners, especially those in underserved areas. Here we’ll cover the best small-business loans in Georgia, as well as how to choose the right option for your business.

250+ small-business products reviewed and rated by our team of experts.

95+ years of combined experience covering small business and personal finance.

50+ categories of best business loan selections.

Objective and comprehensive business loans ratings rubric. (Learn more about our star ratings.)

NerdWallet's small-business loans content, including ratings, recommendations and reviews, is overseen by a team of writers and editors who specialize in business lending. Their work has appeared in The Associated Press, The Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict guidelines for editorial integrity to ensure accuracy and fairness in our coverage.

Best Georgia small-business loans from nonprofit lenders

Nonprofit lenders — many of them community development financial institutions (CDFIs) — typically exist to provide capital access to otherwise underserved businesses. They often cater toward women- or minority-owned or low-income business owners, and can have more lenient qualification requirements than banks while preserving favorable loan terms.

ACE

Best for: Women- and minority-owned Georgia businesses.
ACE - Small Business Loans
ACE - Small Business Loans

ACE - Small Business Loans

Min Credit  

600

Key facts:

  • No prepayment penalties. 

  • Offer one-on-one consulting services for business owners in marketing, accounting, operations and other areas.

  • Personal guarantee and UCC lien required. 

Access to Capital for Entrepreneurs (ACE) is one of the largest nonprofit lenders in Georgia, serving 100 counties across the state, and is a registered CDFI. They offer loan amounts between $15,000 and $1 million to women- and minority-owned businesses and businesses located in low-income areas. In 2023, they funded $35 million in loans, with 89% going to underserved entrepreneurs.

  • Minimum credit score of 600. 

  • Minimum two years in business. 

  • No active bankruptcies in the past three years. 

LiftFund

Best for: Georgia businesses with poor credit.
LiftFund - Small Business Loans
LiftFund

LiftFund - Small Business Loans

Min Credit  

550

Key facts:

  • Loans available for working capital, real estate, equipment, inventory and more.

  • May qualify for up to $20,000 with a minimum credit score of 550. 

  • Loan terms up to 84 months. 

LiftFund is a Texas-based CDFI that also offers loans for women- and minority-owned businesses, and startups throughout the state of Georgia.

Qualification requirements vary based on specific loan programs; however, LiftFund says it works with small businesses with limited credit, collateral or experience.

Southwest Georgia United

Best for: Georgia nonprofit businesses.
Southwest Georgia United
Southwest Georgia United

Southwest Georgia United

Min Credit  

640

Key facts:

  • Loan amounts up to $250,000. 

  • Loan terms between 12 months and 10 years. 

  • Funds may go toward startup costs, construction, working capital and more.

Southwest Georgia United is a CDFI based in the southwestern part of the state, and offers business loans and microloans to both for-profit and nonprofit organizations, in both rural and urban areas of Georgia.

  • Funded projects must create job opportunities in low-income or other underserved communities. 

  • Applicants must provide a down payment of at least 10% of the loan amount.

Albany Community Together

Best for: Southwest Georgia small businesses.
Albany Community Together
Albany Community Together

Albany Community Together

Min Credit  

500

Key facts:

  • Loan amounts up to $50,000. 

  • Startups are eligible for some funding. 

  • Working capital loans, revolving loans and contractor financing available.

Albany Community Together is another CDFI that helps underserved businesses — particularly minority or low-income communities — access business capital. They offer several different types of loan programs, with loan amounts up to $50,000 and terms up to five years.

  • Must be located in one of the following counties: Baker, Bibb, Calhoun, Chattahoochee, Clay, Colquitt, Crawford, Crisp, Decatur, Dooly, Dougherty, Early, Grady, Harris, Houston, Lee, Macon, Marion, Meriwether, Miller, Mitchell, Muscogee, Peach, Pike, Quitman, Randolph, Schley, Seminole, Stewart, Sumter, Talbot, Taylor, Terrell, Thomas, Troup, Upson, Webster, Worth. 

  • Collateral required for working capital loans, revolving loans and contractor financing. 

  • Must provide a bank rejection letter or other documentation to show inability to get bank financing. 

Small Business Assistance Corporation

Best for: Small businesses located in Savannah and the surrounding area.
Small Business Assistance Corporation
Small Business Assistance Corporation

Small Business Assistance Corporation

Min Credit  

640

Key facts:

  • Loan amounts between $2,500 and $1.25 million. 

  • Loan approval within two to four weeks. 

  • Additional loan fees ranging from 1-2%.

The Small Business Assistance Corporation (SBAC) is a CDFI that provides loans to businesses in Savannah, Georgia, southeastern Georgia and parts of South Carolina. They participate in several SBA loan programs, but also offer other types of loans, including a credit builder loan, contract loans and loans designed specifically for rural businesses. Eligibility varies based on the type of loan. Borrowers may qualify for up to $1.25 million through their State Small Business Credit Initiative (SSBCI) partnership.

  • Must be a for-profit business. 

  • Must meet SBA size standards. 

  • Must be located in a qualifying county.

Best Georgia business loans from banks and credit unions

Banks and credit unions often offer the lowest rates and most favorable loan terms, though they may have stricter qualification requirements. Several Georgia-based banks and credit unions, as well as larger national banks, offer small-business loan options for Georgia-based businesses.

Delta Community Credit Union

Best for: Credit union for Georgia small businesses.

Key facts:

  • Offer commercial real estate loans, lines of credit and equipment financing. 

  • Rewards credit card with no annual fee also offered to members.

The largest credit union in Georgia is Delta Community Credit Union, open to anyone who lives, works, or operates a business in the Atlanta metro area. Founded by Delta Air Lines employees, Delta Community Credit Union provides commercial real estate loans, equipment and vehicle financing, and business lines of credit.

Those who live in one of several Georgia counties can qualify for business membership with Delta Community Credit Union. Specific qualification requirements will vary based on loan product.

Citizens Bank of Georgia

Best for: Local bank for Georgia businesses.

Key facts:

  • Business lines of credit, real estate, SBA and equipment loans offered. 

  • Online application process. 

Citizens Bank of Georgia is a community-owned and operated bank that provides a host of services for small businesses, including small-business loans.

Specific qualification requirements vary based on loan product.

Wells Fargo

Best for: National bank for Georgia small businesses.
Wells Fargo Small Business Advantage® Line of Credit
Wells Fargo

Wells Fargo Small Business Advantage® Line of Credit

Min Credit  

680

Key facts:

  • Line of credit up to $50,000. 

  • No annual fee. 

  • Startup businesses with less than two years in business may be funded.

Wells Fargo is a national bank that offers small-business loan products and provides loan dollars to Georgia CDFIs like ACE. Their individual loan products offer low rates and favorable terms, but come with stricter qualification requirements.

  • Minimum 680 credit score. 

  • Personal guarantee required.

Best Georgia business loans from online lenders

Beyond the Georgia-based lender options, there are several national online lenders that provide small-business loans for businesses located in Georgia. Online lenders can be easier to qualify with, but often offer higher rates and shorter terms than banks and credit unions, or even nonprofit lenders.

Fundbox

Best for: Lines of credit for Georgia businesses.
Fundbox - Line of credit
Fundbox

Fundbox - Line of credit

Min Credit  

600

Key facts:

  • Lines of credit up to $150,000. 

  • Funding available as quickly as the next day.

  • Repayment terms of 12 or 24 weeks. 

Fundbox is an online lender that provides flexible, short-term lines of credit for small businesses. With its streamlined online application process you may be approved in as little as three minutes, with access to funding as early as the following day.

Fundbox requires a minimum of just six months in business to qualify, and a 600 minimum credit score, which is significantly lower than most banks. You will need at least $100,000 in annual revenue to qualify.

Fora Financial

Best for: Georgia business owners with bad credit.
Fora Financial - Online term loan
Fora Financial

Fora Financial - Online term loan

Min Credit  

570

Key facts:

  • Loans up to $1.5 million. 

  • Minimum 570 credit score. 

  • Prepayment discounts available. 

Fora Financial is an online lender that offers up to $1.5 million in financing. Like most online lenders, it offers more lenient requirements than traditional lenders; however, interest rates can be high and terms only go up to 18 months.

Fora Financial requires just six months in business and a 570 personal credit score, but at least $20,000 per month in revenue.

Funding Circle

Best for: Long-term business purchases for Georgia businesses.

Key facts:

  • Loan terms up to seven years. 

  • Fast financing compared to traditional lenders. 

  • Loan amounts between $25,000 and $500,000.

Funding Circle is an online lender that offers rates and requirements similar to a traditional lender; however, its process can be much faster. Approval decisions can come within 24 hours, and you may get funded in two business days.

  • Minimum credit score: 660. 

  • Minimum time in business: two years. 

  • Minimum annual revenue requirement: $50,000. 

Other resources for Georgia small-business loans

  • University of Georgia Small Business Development Center. UGA’s 18 SBDC offices across the state are meant to provide tools, training and resources to Georgia small businesses. 

  • Invest Atlanta. Invest Atlanta is the economic development authority for the city of Atlanta, providing tons of resources — including funding, resource centers, tax credit opportunities and and investor platforms — to entrepreneurs and small businesses across the state. 

  • Local Georgia SCORE chapters. The Service Corps of Retired Executives (SCORE) is a national organization that offers business advisory services and assistance to small businesses all over the United States. There are several chapters that serve specific counties across the state of Georgia.   

How to get a business loan in Georgia

Exact qualification requirements will vary based on your business and the type of lender you apply with, but there are a few general steps you should take to prepare for financing.

  1. Determine what type of financing you need. The right type of financing for you will depend on your business’s industry, age and revenue; the purpose of the loan; and your personal credit score. When you understand what you intend to use the money for and how much you might qualify for, you can begin to narrow down other options. 

  2. Research and compare lenders. Once you understand the type of funding you need, you can research lenders that offer loans that fit your business best. If you can, try to include online, nonprofit and bank lenders in your research to understand what each has to offer. You can also speak with representatives from each institution, and get quotes to compare rates and terms. 

  3. Gather your documentation. Once you’ve chosen a lender, you should have a list of the exact documents they require — typically a business plan, business legal documents and business tax returns. This part of the application process can move as quickly as you’re able to gather the necessary documentation. 

This article originally appeared on Fundera, a subsidiary of NerdWallet.

Methodology

NerdWallet’s review process evaluates and rates small-business loan products from traditional banks and online lenders. We collect over 30 data points on each lender using company websites and public documents. We may also go through a lender’s initial application flow and reach out to company representatives. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.

Our star ratings award points to lenders that offer small-business friendly features, including:

  • Transparency of rates and terms.

  • Flexible payment options.

  • Fast funding times.

  • Accessible customer service.

  • Reporting of payments to business credit bureaus.

  • Responsible lending practices.

We weigh these factors based on our assessment of which are the most important to small-business owners and how meaningfully they impact borrowers’ experiences.

NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodology for small-business loans and our editorial guidelines.

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