Baxley, Georgia Business Gets SBA-Guaranteed Funding from First National Bank South

First National Bank South and the SBA work together to get business loans for growing small businesses. Here's an example of how a Georgia entrepreneur was able to get a loan to take a small business to the next level.

This business knew how to go about getting a business bank loan. Based in Baxley, Georgia, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was First National Bank South, based in Alma, Georgia.

SBA Loan Borrower

COMPANY TYPE: FARM MACHINERY AND EQUIPMENT
BAXLEY, GA 31513

SBA Loan Lender

FIRST NATIONAL BANK SOUTH
423 W 12TH ST
ALMA, GA 31510

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3523 - Farm Machinery and Equipment

NAICS Code

333111 - Farm Machinery and Equipment Manufacturing

Loan Approval Date

4/3/2002

Loan Approval Gross Amount

$1,330,000

Loan Approval from the SBA

Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 35 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Baxley GA, you ought to talk with a local Baxley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Baxley businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Raising Venture Capital

SBA 7A Banks for Alma, Georgia Loans

Georgia SBA Bank Lenders