Georgia Small Business Loan Issued to Car Washes Company

Bank loans in Georgia are hard to find these days. We take a look at one Georgia bank loan, provided by a Georgia bank, that was approved by the SBA.

Getting a small business loan in Calhoun, Georgia was a top priority for this loan applicant back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Citizens First Bank. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
CALHOUN, GA 30701

SBA Loan Lender

CITIZENS FIRST BANK
701 BROAD ST
ROME, GA 30161

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

12/1/2004

Loan Approval Gross Amount

$675,000

Loan Approval from the SBA

Of the total $675,000 loan amount, the SBA guaranteed $506,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens First Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens First Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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