Getting an SBA Loan for Store Retailers

With these SBA loans for store retailers, the SBA guarantees the lender that the loan will be repaid. This store retailers loan for $215,401 was given to a Georgia entrepreneur in 2002.

Getting a small business loan in Breman, Georgia was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Colonial Bank, operating out of Montgomery, Alabama. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
BREMAN, GA 30110

SBA Loan Lender

COLONIAL BANK
100 COLONIAL BANK BLVD
MONTGOMERY, AL 36117

When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to offer quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

9/25/2002

Loan Approval Gross Amount

$215,401

Loan Approval from the SBA

Of the total $215,401 loan amount, the SBA guaranteed $161,551.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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