Commerce, Georgia Bank Lends Money to Catalog And Mail-Order Houses Company in Commerce, Georgia

Thinking about meeting with a Commerce, Georgia bank about a small business loan? Here's one Georgia business loan, issued by a Commerce bank, that was approved by the SBA.

Applying for an SBA loan with Community Bank & Trust worked out well for our friends at one local firm in Commerce, Georgia. The business was able to get an SBA loan for $100,000. Nice!

SBA Loan Borrower

COMPANY TYPE: CATALOG AND MAIL-ORDER HOUSES
COMMERCE, GA 30548

SBA Loan Lender

COMMUNITY BANK & TRUST
1851 N ELM ST
COMMERCE, GA 30529

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5961 - Catalog and Mail-Order Houses

NAICS Code

454110 - Electronic Shopping and Mail-Order Houses

Loan Approval Date

6/15/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Financing Your Business

SBA Approved Banks in Commerce, Georgia

SBA Participating Banks in Georgia