Douglasville, Georgia Business Gets SBA-Guaranteed Funding from Synovus Bank Of Tampa Bay

An SBA loan from Synovus Bank Of Tampa Bay typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Douglasville, Georgia business owner got a $150,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Synovus Bank Of Tampa Bay, out of Saint Petersburg, Florida. The loan was granted and they received $150,000 to help grow their Douglasville, Georgia business.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
DOUGLASVILLE, GA 30135

SBA Loan Lender

SYNOVUS BANK OF TAMPA BAY
333 THIRD AVE NORTH
SAINT PETERSBURG, FL 33701

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

9/27/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 6 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Synovus Bank Of Tampa Bay that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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Small Business Banks in Saint Petersburg, Florida

Getting a Business Loan in Florida