Business Loan from Mountain 1st Bank & Trust Given to Veterinary Services Company

An SBA loan from Mountain 1st Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Decatur, Georgia business owner got a $1,890,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Decatur, Georgia was able to borrow $1,890,000 from Mountain 1st Bank & Trust. The SBA made the loan possible by guaranteeing $1,417,500 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES
DECATUR, GA 30030

SBA Loan Lender

MOUNTAIN 1ST BANK & TRUST
203 GREENVILLE HWY
HENDERSONVILLE, NC 28792

This lender issued this SBA bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541940 - Veterinary Services

Loan Approval Date

8/16/2007

Loan Approval Gross Amount

$1,890,000

Loan Approval from the SBA

Of the total $1,890,000 loan amount, the SBA guaranteed $1,417,500.

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. This SBA loan request indicated that the loan would help generate 9 new jobs and retain 26 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Mountain 1st Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in Hendersonville, North Carolina

Getting an SBA Loan in North Carolina