Access to Capital for Entrepreneurs (ACE) has recently gained immense popularity due to its successful loan schemes and funding services for small businesses.
Key Points
- Access to Capital for Entrepreneurs (ACE) is a community leader based in Georgia, Atlanta which is registered by the state and aims to fund small businesses and women entrepreneurs by funding their ventures.
- At ACE, business loans are introduced in the form of loan products which is of three categories in addition to two separate programs for the provision of loans.
- ACE has also started a SOAR fund to uplift small ventures which have been affected by the pandemic.
- ACE Women’s Business Center is a chief contributor to the progress of women entrepreneurs as it approves and launches several loan programs for women entrepreneurs.
Also Read: “10 Thrilling Facts About a Solopreneur”
What is ACE?
Access to Capital for Entrepreneurs (ACE) is a non-profit entrepreneurial organization that is highly efficient when it comes to the provision of loans to small businesses.
The main ambition of the organization is to make entrepreneurship easier for all so that economic development could enhance the repertoire of the country and promote industrial development.
ACE is highly active in promoting small businesses all across Georgia. Since the organization is a local one so for now it’s only funding local businesses. The attempt of the venture is to promote creativity among individuals so that they start their ventures without any pressure.
Who can apply for a loan?
ACE is highly efficient to promote small businesses. Its most important contribution is to promote women entrepreneurs in the entrepreneurial world. It encourages women who have the courage to dream because it allows them to open their wings and soar as high as they can. Many women entrepreneurs across Georgia have succeeded in their business ventures due to the appreciation and monetary aid from ACE.
ACE welcomes all kinds of individuals and embraces all small businesses equally without any difference. Plus, minorities are also encouraged to begin their startup with the association of ACE.
It not only provides suitable loans to struggling business ventures but also connects certain ventures with incubation or leading funding organizations located all across America. The chief reason behind its services is to provide Georgia’s small businesses a safe refuge and enough resources to transform into great ideas.
What is the term “Loan Products”?
Loan Products are defined as the types of loans being offered by this organization. Depending upon the nature of your business venture and the cause for which you apply, it assorts specific names and identities to the loan programs which are being offered.
These loan products are based on several conditions and terms and each of the loan products offers something different from the other based on the nature of the requirement.
What are the important loan products offered by ACE?
The following are the most significant loan products offered by the organization:
Small Business Loans
These are the kinds of loans that are exclusively made for small businesses. The initiative over here is to promote small business ventures and for that purpose, the organization offers up to $50,000 loans upon online application. However, certain credentials are checked by the organization before the deal is cracked with a particular business.
Commercial Loans
Commercial loans are the latest product offered by the organization. Commercial loans are the loans that are offered to those businesses which are operating in the commercial domain and catering to the needs of a number of people.
The difference between them and small business loans is that those kinds of loans are offered to businesses that are yet to be established while commercial loans are offered to businesses that are already operating in the public domain and need capital for an extension. The organization offers loans up to the same $50,000 to those who are in need.
1.99% Energy Efficiency Loan
These kinds of loans are specific to energy and power sustainability. The hope is to eliminate the energy costs which are spent on a specific business venture. The energy efficiency loan is an attempt to minimize expenses. They can also be categorized as partial loan programs which are an extension of the Georgia Green Loan Program.
The attempt here is to develop ventures which can stand the test of time under reduced costs of electricity and other energy sources by substituting the expensive sources with cheaper and useful ones not just for the entrepreneurs but for the environment as well.
Other than these three chief loan programs, the DeKalb County Small Business Loan Program and the SOAR fund are also offering entrepreneurs two alternative ways to fund their business ventures.
How COVID has impacted ACE?
At ACE, every social and natural change is not only felt but suitable amendments are done by the authorities to help those who are in need. The pandemic has impacted millions of businesses. It has created an economic tussle for those who are struggling to keep pace with the dynamic business domain.
For that purpose, a grant of $100,000 has been announced under the SOAR fund which aims to help those entrepreneurs who are gravely struck by the disastrous impacts of COVID-19 which is deemed a great initiative in the business world.
Some Benefits of ACE
Access to Capital for Entrepreneurs is not just the name of an organization or a community aiming to make lending easier for entrepreneurs but it is actually committed to doing so because
It is granting entrepreneurs loans at low interest rates
Compared to other lending sources, ACE can be considered an active agent for lending because it understands the requirements of small businesses. The overall mission here is the promotion of entrepreneurial values and creating a space where individuals can easily find out the solution to their quests.
It hopes to create a peaceful environment for entrepreneurs where they develop their ventures free of any panic due to the financial burden. For this reason, there is a very little interest rate charged over all sorts of loans and the return duration is also flexible compared to other sources of money lending.
It enables entrepreneurs to connect to leading entrepreneurial organizations
At ACE, you not only get the due exposure you want but this organization shares many international partners which are keen to work in the entrepreneurial world. ACE provides an active source of connection to these leading entrepreneurial agencies where entrepreneurs can get the leading business lessons and work in collaboration with them.
The plus point here is that women entrepreneurs are provided with the leading sources which are highly active in the entrepreneurial domain. This also helps women entrepreneurs to connect with other individuals who have the same level of interest in the ventures.
ACE organizes different entrepreneurial events
Another benefit of connecting with ACE is that here you get to find yourself training under variable capacities. I believe that ACE serves best to small businesses because it offers them huge talent and helps them sort out new ventures which fall on their checklist.
ACE being the leading entrepreneurial community offers individuals to share their entrepreneurial skills with the other members of the community with the help of entrepreneurship events which are organized for the sake of sharing and promoting new talent, especially small businesses can find ideal opportunities through these events.
ACE is legal and state approved
Today, many entrepreneurial organizations are operating on their own. With the growth of the concept, the need for finding organizations that can sponsor ventures is higher than ever. Many fake organizations have taken advantage of this situation.
Today, there are a number of fraudulent organizations which do no good for businesses but many of the organizations have been doomed due to their interest and association with fake organizations. However, you do not have to face the same kind of situation when it comes to Access to Capital for Entrepreneurs.
It has made a great reputation in the business community over time and has been considered a trusted business community operating in Georgia by state orders. This helps you to believe that you are knocking on the right door at the time of your need.
ACE aims to promote entrepreneurial harmony
Another factor that is mostly overlooked by many economic experts is that ACE has a role in more than just giving loans. The promotion of small businesses is the most important agenda which ACE explains in its business vision but there is more to that.
ACE not only promotes small businesses but also provides small business owners an opportunity by which these individuals can come close to each other and contribute to the community. The basic purpose of ACE is to create a community where individuals can share their opinions on the basis of the experiences which they gain upon staying in a business field and exchanging their ideas.
This main motive of ACE gets depicted by the vision it offers and the steps it is taking to enhance community building on the basis of entrepreneurial agendas.
Frequently Asked Questions
How does ACE operate?
ACE is a local organization that functions as a community leader and is active in lending easy loans to small businesses in particular and commercial business ventures in general. ACE has affiliations with various local and interstate entrepreneurial communities which are all assisting Access to Capital for Entrepreneurs in its attempt to financially lessen aspiring entrepreneurs’ burdens.
How do I know I am eligible for the loan products offered by ACE?
It’s very simple and pretty much convenient to find out about your eligibility over ACE. For any of the loan products in which you are interested, you simply have to go to the apply section. You will be asked to submit your business email, the startup’s name, and your credentials.
In addition to this, you will be required to mention the duration of your venture and there will be certain questions from the ACE’s official side which you need to answer.
Once this has been done, they will check your validity and match your details for the sake of authenticity. If everything goes in order, you will be requested to collect your respective loan product.
Can I attend the events of ACE free?
Yes, the events organized by ACE are absolutely free. These are certain training events that are organized from time to time to make young and aspiring entrepreneurs aware of the most common entrepreneurial myths. Many of them are educational events for the management and development of a business venture. Because of the ongoing pandemic, these are arranged in the form of webinars for which you can register yourself simply with the help of a valid email address.
Has ACE a global outreach?
No, at present ACE is based in Georgia though it has collaborated with more than 70+ nonprofit organizations based in Atlanta. This way, it provides great exposure to small businesses by nourishing them with the hands of diversity and education.
However, the events which are arranged by the community are of global significance because of them being educational webinars. Hence, you can easily find out some important precepts of great entrepreneurship. The experts or the guest speakers of the webinars can also help you find valid and authentic loan-sharing organizations on the basis of their field knowledge and networking skills.
How’s ACE contributing to Women’s Entrepreneurship?
ACE believes in giving equal opportunities to both men and women in the field of business. For this purpose, ACE Women’s Business Center is active to manage the ventures which are started by women entrepreneurs.
It is also providing them with the opportunity to express their business venture and its significance at the scheduled webinars which is a very good step to increase the number of women entrepreneurs as well as the enthusiasm among career-oriented women.
Conclusion
Access to Capital for Entrepreneurs is emerging as a leading loan-sharing community whose aim is not just to seek out profit from the ventures, but it believes in providing chances to small businesses which are overshadowed under the highly funded ones. With its great vision to represent everyone equally in the entrepreneurial domain, it is winning many hearts in the business market despite being a local community setup.
The author is an M.Phil scholar conducting her thesis in Literature. As a sucker for literature, she swoons over Greek and South Asian fiction while reviewing books in her spare time. Her love for writing has made her expand her subject matter and now she pens her opinions frequently on business, finance, entrepreneurship, lifestyle, history, and literature. For a special connection with entrepreneurship, she opens up the details occasionally about it.