Georgia SBA Loan Issued to Full-Service Restaurants Company

Business loans in Georgia are are few and far betweeen these days. We take a look at one Georgia business loan, provided by a Georgia bank, that was approved by the SBA.

You can learn something about getting a small business loan in Macon, Georgia by studying this loan to a local business, made back in 2002. Banks like South Georgia Banking Company may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MACON, GA 31204

SBA Loan Lender

SOUTH GEORGIA BANKING COMPANY
561 E WASHINGTON AVE
ASHBURN, GA 31714

This lender issued this bank loan under the 7A SBA 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

1/22/2002

Loan Approval Gross Amount

$621,000

Loan Approval from the SBA

Of the total $621,000 loan amount, the SBA guaranteed $465,750.

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 15 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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