Local Business Gets a Georgia Business Loan

Business loans in Georgia are are few and far betweeen these days. We take a look at one Georgia business loan, provided by a Georgia bank, that was approved by the SBA.

Getting a small business loan in Atlanta, Georgia was a top priority for this SBA-financed company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Columbus Bank & Trust. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE
ATLANTA, GA 30308

SBA Loan Lender

COLUMBUS BANK & TRUST
1148 BROADWAY
COLUMBUS, GA 31901

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5021 - Furniture

NAICS Code

421210 - Furniture Wholesalers

Loan Approval Date

10/31/2000

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the business planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

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Georgia SBA Bank Lenders