Durden Banking Co., Inc. SBA Loan to Industrial Inorganic Chemicals, N.E.C Company

Searching for a Georgia small business loan? Here's one Georgia business loan that was approved by the SBA.

This up and coming company knew how to go about getting a business bank loan. Based in Midville, Georgia, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Durden Banking Co., Inc., based in Twin City, Georgia.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL INORGANIC CHEMICALS, N.E.C
MIDVILLE, GA 30441

SBA Loan Lender

DURDEN BANKING CO., INC.
111 N RAILROAD AVE
TWIN CITY, GA 30471

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2819 - Industrial Inorganic Chemicals, N.E.C

Loan Approval Date

3/28/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, 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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