ACE’s Mission The mission of Access to Capital for Entrepreneurs, Inc. (ACE) is to provide community economic development to underserved people and community. ACE is a non-profit organization that provides loan and business development to help its borrowers create and grow sustainable businesses which generate jobs.

Fun Facts! $29 million in small business loans deployed over the course of 15 years 600 businesses Securing 4,000 jobs for Georgians Loans range from microloans of up to $50,000, to loans up to $250,000 Opened the Women’s Business Center in Norcross in early 2015 with Small Business Administration funding Target audience -- women, low-income communities, minorities 52% Women 43% minority 40% low-income 63% in Atlanta 97% repayment rate

CDFI is defined as a financial institution that: has a primary mission of community development, serves a target market, is a financing entity, provides development services, remains accountable to its community, and is a non-governmental entity. CDFI

SBA MICROLENDER The U.S. Small Business Administration provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible borrowers.

SBA Community Advantage Loan The Community Advantage program will allow community-based, mission-focused lenders to make SBA 7(a) loans of up to $250,000 with the regular 7(a) government guarantee. Community Advantage lenders will be expected to maintain at least 60 percent of their SBA loan portfolio in underserved markets, including loans to small businesses in, or that have more than 50 percent of their workforce residing in, low-to-moderate income (LMI) communities; in Empowerment Zones and Enterprise Communities; in HUBZones; start-ups (firms in business less than 2 years); and veteran-owned businesses and those that would be eligible for Patriot Express.

Underwriting Criteria Credit Collateral Cash Flow Capital Investment

Minimum Requirements: 550 minimum credit score. (but loan size is dependent on credit score: the lower the credit score, the lower the loan amount) No collections or write-offs within the past 6 months No Chapter 7 or Chapter 13 bankruptcy in the last 12 months. No late payments for mortgage or car in the last 12 months or 6 months for student loans No foreclosure or repossession in the last 12 months. 10%-30% minimum equity requirements for start-ups EXAMPLE-If the following situation applies, the applicant will be denied. Why? Start-up 637 credit score Personal income of $5,800 and personal expenses of $1,520, Projected rent of $5,000 and personal debt $880 1 month behind with a creditor ANSWER: Personal income is insufficient to cover business rent and loan payment

Thank you! Maria Peck ACE Women’s Business Center Director 404-717-2282 www.aceloans.org