Commercial Loans for Pump and Pumping Equipment Manufacturing

With these commercial loans for pump and pumping equipment manufacturing, the SBA guarantees the lender that the loan will be repaid. This pump and pumping equipment manufacturing loan for $878,000 was given to a Georgia entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fitzgerald, Georgia was able to borrow $878,000 from Colony Bank Southeast. The SBA made the loan possible by guaranteeing $658,500 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: PUMP AND PUMPING EQUIPMENT MANUFACTURING
FITZGERALD, GA 31750

SBA Loan Lender

COLONY BANK SOUTHEAST
625 W WARD ST
DOUGLAS, GA 31533

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

333911 - Pump and Pumping Equipment Manufacturing

Loan Approval Date

2/7/2006

Loan Approval Gross Amount

$878,000

Loan Approval from the SBA

Of the total $878,000 loan amount, the SBA guaranteed $658,500.

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 35 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 35 existing jobs.

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

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Colony Bank Southeast are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Startup Funding Tip

SBA Participating Banks in Douglas, Georgia

Georgia SBA 7A Banks