Commercial and Service Industry Machinery Manufacturing Business Loans

With these business loans for commercial and service industry machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This commercial and service industry machinery manufacturing loan for $129,300 was given to a Georgia entrepreneur in 2003.

Getting a small business loan in Louisville, Georgia was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Queensborough National Bank & Trust, operating out of Statesboro, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
LOUISVILLE, GA 30434

SBA Loan Lender

QUEENSBOROUGH NATIONAL BANK & TRUST
120 S ZETTEROWER AVE
STATESBORO, GA 30458

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

10/9/2003

Loan Approval Gross Amount

$129,300

Loan Approval from the SBA

Of the total $129,300 loan amount, the SBA guaranteed $109,905.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The loan application indicated that the loan would help generate 4 new jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Line of Credit

SBA 7A Banks for Statesboro, Georgia Loans

Getting a Business Loan in Georgia