SBA Loan from Bank Of Madison Helps Retail Bakeries Company
Bank Of Madison and the SBA work together to get business loans for growing small businesses. Here's an example of how a Georgia entrepreneur was able to get a loan to take a small business to the next level.
This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Bank Of Madison, out of Madison, Georgia. The loan was granted and they received $70,000 to help grow their Madison, Georgia business.
SBA Loan Borrower
COMPANY TYPE: RETAIL BAKERIES
MADISON, GA 30650
SBA Loan Lender
BANK OF MADISON
133 N MAIN
MADISON, GA 30650
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5461 - Retail Bakeries
NAICS Code
445291 - Baked Goods Stores
Loan Approval Date
2/14/2002
Loan Approval Gross Amount
$70,000
Loan Approval from the SBA
Of the total $70,000 loan amount, the SBA guaranteed $59,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The loan application did not indicate that the business planned 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?
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank Of Madison and they will explain how you can get an SBA loan for your company.
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:
Obtaining Funding - Getting Venture Capital
SBA 7A Banks for Madison, Georgia Loans
SBA Lenders in Georgia