Business Loan from Community Bank - Pickens Cnty Given to Full-Service Restaurants Company

An SBA loan from Community Bank - Pickens Cnty typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Jasper, Georgia business owner got a $1,200,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Jasper, Georgia was able to borrow $1,200,000 from Community Bank - Pickens Cnty. The SBA made the loan possible by guaranteeing $900,000 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
JASPER, GA 30143

SBA Loan Lender

COMMUNITY BANK - PICKENS CNTY
15 SAMMY MCGHEE BLVD
JASPER, GA 30143

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started 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

722110 - Full-Service Restaurants

Loan Approval Date

8/29/2001

Loan Approval Gross Amount

$1,200,000

Loan Approval from the SBA

Of the total $1,200,000 loan amount, the SBA guaranteed $900,000.

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 50 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank - Pickens Cnty had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Bank - Pickens Cnty made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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