Jonesboro, Georgia Lender Lends Money to Tire Dealers Company

Want to talk with a Jonesboro, Georgia bank about an SBA loan? Here's one Georgia business loan, issued by a Jonesboro bank, that was approved by the SBA.

Applying for an SBA loan with Heritage Bank worked out well for our friends at one local firm in Conley, Georgia. They got an SBA loan for $535,000. Nice!

SBA Loan Borrower

COMPANY TYPE: TIRE DEALERS
CONLEY, GA 30288

SBA Loan Lender

HERITAGE BANK
101 N MAIN ST
JONESBORO, GA 30236

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441320 - Tire Dealers

Loan Approval Date

11/3/2006

Loan Approval Gross Amount

$535,000

Loan Approval from the SBA

Of the total $535,000 loan amount, the SBA guaranteed $401,250.

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 27 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 29 existing jobs.

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.

We've showcased information on this loan to let you know that businesses like yours 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:

Determining Proper Capital Structure for a Business

Small Business Banks in Jonesboro, Georgia

Georgia SBA Banks