The University of Georgia Small Business Development Center (UGA SBDC) has been named a sub-recipient in the State Small Business Credit Initiative (SSBCI) Grant. A $6.2 million grant funded by the U.S. Department of Treasury and administered through the Georgia Department of Community Affairs (DCA); this grant was created to expand business assistance for small businesses that have difficulty accessing traditional banking opportunities.
This grant is part of a $10 billion federal program intended to support small business and expand access to capital through business loans. This latest grant will take those initiatives a step further, expanding the UGA SBDC’s individual business assistance to small businesses across the state through one-on-one business consulting, financing training programs and credit repair guidance in partnership with UGA’s College of Family and Consumer Sciences Extension.
With the awarded grant funds, the UGA SBDC will add additional business advisors, strategically placed at UGA SBDC offices across the state, whose focus will be on providing assistance for businesses facing banking challenges due to their size or lack of access to capital. These advisors will serve as the sole providers of technical assistance for the SSBCI program in Georgia, delivering training and individual assistance to businesses in the areas of legal considerations, accounting, marketing and obtaining capital.
UGA SBDC business advisors will host regular sessions of the “Myths and Realities of Small Business Funding” training program. This program provides new business owners with basic information on the documentation and business performance information required by lending programs and institutions. Training topics include information on credit scores, business proformas, financial statements and operational considerations. After completing the course, business owners will be able to assess their businesses’ financial needs and take…
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