Atlanta, Georgia, is the most populous city in the state of Georgia, with an estimated population of 498,000. It is also the 37th most populous city in the United States. The bigger economic story about Atlanta is the fact that the city and the metropolitan area, which includes Fulton and DeKalb counties, as well as surrounding areas, is home to 5.9 million people, making it the 9th largest metro area in the nation. Atlanta ranks in the top 20 among cities in the world and 10th in the country with a gross domestic product of $385 billion.  Atlanta is at the center of the economic development engine in Georgia.

Atlanta, GA, has a diverse economy with industries like professional services, media operations, medical services, information technology, logistics, and transportation. Atlanta is a major transportation hub with Hartsfield-Jackson Atlanta International Airport being the world’s busiest airport by passenger count since 1998.

Atlanta, GA is not unique in the fact that small businesses struggle to get funding from traditional banks, which often have a responsibility to protect customer deposits and follow Federal Reserve requirements and guidelines. Because of traditional banks’ high credit standards, strict financial statement requirements, and a mountain of paperwork, many small businesses are shut out from access to capital and the additional needed financing resources.

There are a lot of additional resources available to encourage small business development for your local Atlanta area main street. In the frequently asked questions section of AdvancePoint Capital’s website, you will find many resources on federal, state, and city levels.

The good news is there is a lot of alternative business funding resources available. AdvancePoint Capital has a lending marketplace full of loan alternatives for Atlanta, GA, businesses, and can provide you the additional resources and information needed to dissect offers and assist you in making informed decisions.

The 8 Best Small Business Financing Options for Atlanta, Georgia

Long Term Business Loans for Atlanta, Georgia

When Atlanta, GA, area business owners need large amounts of capital and affordable payments, many look to long term small business loans as a solution. Long term is defined as a loan that exceeds two years in duration. You get a lump sum upfront, over a fixed term, typically with a fixed interest rate. The most common purpose of these types of products is for expansion and growth. These long term loans do not allow you to draw money like some other resources such as a small business line of credit.

Product Overview

Rates: Interest rates starting at 6.50%

Terms: 2 to 5 years

Fees: 0% to 3% origination fees

Payments: Monthly or bi-weekly payments

Credit Standards: Good to excellent preferred, but all types considered

Documentation: Standard documentation, business bank statements, financial statements, business tax returns

Processing Times: 3 to 5 days

Benefits and Best Uses of Long Term Business Loans

The obvious benefit to long term business loans is the duration of time of repayment. The longer period allows for larger borrowing amounts while still maintaining affordable payments. This product is used for large expenditures that exceed 100% of the monthly revenue of the business as well as those who want to complete business expansion projects.

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Business Line of Credit in Atlanta, Georgia

A business line of credit, like a credit card, is a flexible option that allows you to draw funds when needed, on-demand. A small business line is a revolving line that charges an interest rate and has a limit that cannot be exceeded without approval. Typical business lines require renewal either semi-annually or annually to be extended.  

Product Overview

Rates: Interest rates starting at 6.50%

Terms: Revolving line. Renewed annually or semi-annually

Fees: 0% to 3% origination fees

Payments: Monthly, bi-weekly, or weekly payments

Credit Standards: Good to excellent preferred. All types considered.

Documentation: Standard documentation. A 1-page application and 3 months bank statements, sometime financial will be required depending on limit.

Processing Times: Same day to 3 to 5 days     

Benefits and Best Uses of Business Lines of Credit

You can sum up business line benefits in one word: flexibility. The ability to draw funds at any time without question up to the limit is a very popular feature with Atlanta small business owners. This flexibility can solve any last-minute purchases or emergency cash flow issues.

Short Term Small Business Loans in Atlanta, Georgia

Short term small business loans are an excellent alternative for Atlanta area businesses when traditional small business loans are not an option. Short term small business loans feature a lump sum of money with a fixed payback amount calculated using a factor rate over a short term of time (typically 6 to 18 months). Rates are based on a “factor cost,” not principal & interest, and cost more than traditional small business loans. The popularity of this type of financing is due to the products reduced documentation requirements, which are laxer than conventional small business loan requirements. Traditional small business loans charge more for costs, are shorter-term, and the payments are more frequent to minimize lenders’ risks. For more information about a short term business loan, contact AdvancePoint Capital.

Product Overview

Rates: Interest rates starting at 8% or factor rates based on the funding amount range 1.09% -1.45%

Terms: 6 to 18 months in duration (typically 12 months or less)

Fees: 0% to 5% origination fees

Payments: Weekly, bi-weekly and in some cases daily Monday-Friday

Credit Standards: All types considered

Documentation: Reduced documentation. A 1-page application and 3 months bank statements required

Processing Times: Same day to 24 hours

Benefits and Best Uses of Short Term Small Business Loans

A short-term small business loan is an excellent alternative when you can’t get approved for a traditional small business loan from a bank. The money can be used for any need that a small business would have, including meeting cash flow needs for emergency purchases.

Business Cash Advance in Atlanta, Georgia

Business Cash Advances (BCA) are a Purchase of Future Sales Agreement, also known as a Merchant Cash Advance. A BCA advances money based on the business sales to a business with a fixed payback amount known as a specified amount. This difference between the amount advanced and the payback amount is known as the “factor rate,” which is a fixed cost and does not function like principal & interest rate business loans.

The advance is repaid by taking a fixed percentage of future overall sales deposits. Payments are collected by an ACH fixed daily or weekly payment deducted from a business bank account based on the fixed percentage of future sales. Upon the end of every month, if the fixed payments taken are more than the set future percentage of sales (known as the specified fixed rate), a business owner can request a refund back to the business for the overpayment.

Repayment continues until the payback amount is paid back in full. There is no term limit with advances, as the fixed payback percentage constantly changes due to fluctuating future sales. Business Cash Advances are not loans but advances based on future sales of small businesses.

Product Overview

Rates: Factor rates range from 1.09% up to 1.45% (risked based pricing)

Terms: No term limits (payoff depends on future sales)

Fees: Origination fees range from 0% to 5%

Payments: Weekly or daily Monday-Friday fixed ACH payments

Credit Standards: All types considered. Poor to excellent accepted. 

Documentation: Reduced documentation. 1-page application and 3 months bank statements are all that is required.

Processing Time: Same day to 24 hours

Benefits and Best Uses of Business Cash Advance

Business Cash Advances are a great alternative when you can’t get approved for traditional financing or short term small business loan. The most popular use of funds is working capital to improve cash flow.

Merchant Cash Advance in Atlanta, Georgia

A Merchant Cash Advance (MCA) is a Purchase of Future Sales Agreement, which is similar to that of a Business Cash Advance, but the most significant difference is the repayment process, which is attached to the future credit card sales instead of overall sales. MCA’s take a set percentage of future credit card sales at the time of batch until the advance is paid back in full.

Atlanta area businesses find this valuable when they have low average daily balances or credit issues that prevent them from getting other small business financing options. They like the fact that the repayment is attached to the future credit card sales of the business, which provides greater flexibility and security from profit margin impacts due to decreased sales that a fixed payment does not offer. Merchant Cash Advances are not loans but advances based on future sales of small businesses.

Product Overview

Rates: Factor rates 1.09% up to 1.45%

Terms: No term limits (payoff depends on future credit card sales)

Fees: 0% to 3% origination fees

Payments: Set fixed percentage of future credit card sales withdrawn at the time of batch of credit card sales

Credit Standards: All types considered

Documentation: Reduced documentation. 1-page application, 3 months processing statements, and 3 months bank statements are all that is required.

Processing Time: Same day to 24 hours

Benefits and Best Uses of Merchant Cash Advance

Atlanta, GA small businesses love the Merchant Cash Advance option because it provides working capital when other business loans do not. Also, the flexibility of the repayment allows for ups and downs in sales that a fixed payment does not. A merchant cash advance is used for working capital and cash flow.

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Equipment Financing for Atlanta, Georgia

Equipment financing uses the machinery itself as collateral and security for purchasing necessary equipment for a business.  This product is commonly used by Atlanta, Georgia businesses in the healthcare and manufacturing industries, but is eligible to all Georgia businesses that need equipment to operate. Equipment financing requires limited paperwork to get approved.

Product Overview

Rates: 1.09% up to 1.45% factor rate

Terms: No term limits

Fees: 0% to 3% origination fees

Payments: Weekly or daily Monday-Friday fixed ACH payments

Credit Standards: All types considered

Documentation: Low documentation. 1-page application and invoice for equipment

Time Frames: Same day up to 3 days

Benefits and Best Uses of Equipment Financing

Equipment financing allows you to secure the lease or loan for equipment that the lender has as security.

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SBA Loans in Atlanta, Georgia

The Small Business Administration (SBA) provides additional resources, programs, guidelines, and loan guarantees to approved lenders for businesses throughout the Atlanta, GA SBA area for small business development. The Small Business Administration’s mission is to help Americans start, build, and grow their businesses successfully.

The SBA is not a lender but has rights reserved. They provide guarantees to those approved lenders to recover a certain percentage (up to 80%) of the loan if it were to default. This guarantee gives the approved lender the ability to take on the risk of business loans under SBA terms that they would not ordinarily do so on their own.

SBA loans are highly sought after by SBA Atlanta, GA businesses. They are difficult to obtain because of extensive document review and high credit standards. It is estimated that less than 20% of applications are approved for business loans. Some SBA loans require the collateral of real estate to secure funding. The SBA also launched a new product to address the COVID-19 crisis called the SBA Loan Paycheck Protection Plan.

Product Overview

Rates: Interest rates starting at 6.50%

Terms: 3 to 25 years

Fees: 0% to 3% origination fees

Payments: Fixed monthly payments

Credit Standards: Good to excellent preferred but all types considered

Documentation: Full documentation. Application, 6 months business bank statements, financial statements, two years of business tax returns, year to date Profit & Loss, and balance sheet. More documents and information may be requested upon review.

Processing Time: 1 week to 30 days

Benefits and Best Uses of Atlanta SBA Loans

Atlanta, GA area business owners seek SBA loans because of the great rates, low fees, and long term duration of financing. With the longer terms of an SBA loan, small businesses can acquire more capital with affordable monthly payments. This product is used primarily for expansion and growth as well as funding long term projects.

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Invoice Financing in Atlanta, Georgia

Invoice financing, also known as invoice factoring, offers Atlanta, GA area businesses the ability to improve the cash flow of their small business by getting an advance on outstanding invoices. This fulfills the need for cash quickly. Businesses that can’t wait on outstanding invoices and need n advance off of that invoice ahead of payment by the client benefit greatly from invoice financing.

Invoice financing allows businesses to obtain a cash advance now at an affordable cost of 1% to 2.5% fee off of the face value of the invoice. Invoice factoring is not a loan but advances off of specific invoices.

Product Overview

Rates:                      1% to 2.5% Factor rates

Terms:                     No term limits

Fees:                        Monthly service fees depending on the volume of invoices factored

Credit Standards:    Offers based on clients, NOT the business owner advancing off invoices

Documentation:      Reduced documentation. 1-page application and roster of clients and current accounts receivable aging report

Processing Times:   1 to 2 weeks to set up then ability to fund invoices daily

Benefits and Best Uses of Invoice Factoring

Invoice Factoring is popular with Atlanta small businesses because it helps supplement cash flow in real-time without waiting  30, 60, or 90 days or more for invoices to be paid by clients for an affordable fee.

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The fast, convenient and straightforward way to get the money you need for your business – now! Get Your Quote Today by filling out our simple form.

Why Does Your Atlanta, Georgia Small Business Need a Loan?

The most common reasons Atlanta, Georgia small businesses acquire capital.

  • Working Capital        
  • Equipment Resources     
  • Business Expansion
  • Business Development     
  • Cash Flow shortages        
  • Financial or logistical Emergencies        
  • Advertising and Marketing Resources

Frequently Asked Questions

Are business loans in Atlanta, Georgia difficult to obtain?

The good news is that it is not difficult to getting financing for your business in Atlanta, GA. The Atlanta area is a highly populated area and a major metropolitan area with a stable and diverse economy that business lenders love due to the predictability of business functions in the region.  

Can I get business funding with no documentation in Atlanta, GA?

Business Credit cards can provide funding for your business without documentation. Other business funding products require less or reduced documentation. Keep in mind that the less documentation you provide, the more likely the terms will be less favorable. Choose business products carefully when choosing this option.

Can I get a startup loan in the Atlanta area? What resources are available?

Getting a startup loan in Atlanta, GA, like other parts of the country, is extremely difficult and challenging. We suggest private sources or investors when searching for startup capital.

How can I get grants for small businesses in Georgia? What resources are available?

The good news is there is a lot of help and additional resources for small business owners for growth and small business development.  Grants for small businesses in Georgia and other information can be found at  https://www.georgia.org/small-business/finance . This website operated by the State government of Georgia breaks down both Federal programs administered by the Department of Treasury and Georgia State and local programs and initiatives including the State Small, Micro Loans/CDFI, City of Atlanta Loan Programs, Green Loans, Rural Business Loans, Federal Grant & Loans, Foundations in Georgia and Commercial Cash Flow Management Program. This includes opportunity, support, and additional information for Women, Minorities, Youth, and Veterans entrepreneurs in the Atlanta, GA community.

The above additional resources provide additional information and help to assist Georgia small businesses. Grants for small business in GA do require paperwork and patience to get through what can be a tedious process. These additional resources and programs can help spur economic small business development throughout Atlanta, GA.

Do I need to use real estate as security or collateral for business financing offers?

Most financing does NOT require personal real estate as collateral.

The Bottom Line: Financial Advice, Tips, Warning’s about Atlanta, GA Area Business Loans

Atlanta, GA, small business owners must always begin the search for a loan by asking: what are the purpose and use of the money you are trying to acquire for your Atlanta, GA area business? What challenges may exist in getting approved? No two offers are the same, and there is not a one size fits all approach. Always consider the cost versus benefit analysis when choosing a business funding option.

AdvancePoint Capital has the resources to help you navigate through the search easily and painlessly as well as dissect offers without wasting time or, more importantly money. When you receive offers, you must understand all of the terms and conditions so you can make an informed decision. We have a large marketplace with many different product offerings providing the necessary information to make informed decisions. As we always say at AdvancePoint Capital, compare, shop, and you will always save!  

How to Apply for Small Business Loan in Atlanta, Georgia?

AdvancePoint Capital provides the resources to help you find the business financing solution you need. We offer an easy business funding experience that our customers love. It is a fast, streamlined process and high approval rates come from working with us.

Applying for a loan in Georgia with AdvancePoint Capital is as simple as one, two, three. Start with this online form, then fill out the one-page application, wait a few hours for your approval, and then get your money!

AdvancePoint Capital

The fast, convenient, and straightforward way to get the business loan you need for your business – now!
Get your quote today by filling out our simple form.

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* All loans made by either WebBank, an FDIC-insured Utah industrial bank, or Bank of the Internet Federal Bank, an FDIC-insured federally chartered thrift located in California. In connection with the loans, the Banks' underwriting conditions and terms apply.