Commercial Loans for Collection Agencies
With these commercial loans for collection agencies, the SBA guarantees the lender that the loan will be repaid. This collection agencies loan for $25,000 was given to a Georgia entrepreneur in 2002.
This business knew how to go about getting a business bank loan. Based in Macon, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Suntrust Bank, based in Atlanta, Georgia.
SBA Loan Borrower
COMPANY TYPE: ADJUSTMENT AND COLLECTION SERVICES
MACON, GA 31201
SBA Loan Lender
SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7322 - Adjustment and Collection Services
NAICS Code
561440 - Collection Agencies
Loan Approval Date
10/31/2002
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $21,250.
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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
If you want money for new small business in Macon GA, you ought to talk with a local Macon SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Macon businesses.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Suntrust Bank 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:
Advice on Getting a Small Business Loan
Banks in Atlanta, Georgia
Find an SBA Lender in Georgia