Entrepreneur Works With Covington, Georgia Bank to Get an SBA Loan

Get to know Covington, Georgia banks that specialize in business loans and know how to work with entrepreneurs. Branch Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Loganville, Georgia starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from Branch Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
LOGANVILLE, GA 30052

SBA Loan Lender

BRANCH BANK & TRUST
1134 CLARK ST
COVINGTON, GA 30326

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

4/28/2004

Loan Approval Gross Amount

$148,000

Loan Approval from the SBA

Of the total $148,000 loan amount, the SBA guaranteed $125,800.

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 4 employees. This SBA loan request did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Loganville or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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