Georgia Bank Loan Issued to Women's Clothing Stores 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.

This business, based in Milledgeville, Georgia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from First National Bank - So.. We've got the inside scoop on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
MILLEDGEVILLE, GA 31061

SBA Loan Lender

FIRST NATIONAL BANK - SO.
2501 N COLUMBIA ST
MILLEDGEVILLE, GA 31061

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with getting a loan . 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5621 - Women's Clothing Stores

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

3/7/2002

Loan Approval Gross Amount

$73,000

Loan Approval from the SBA

Of the total $73,000 loan amount, the SBA guaranteed $62,050.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank - So. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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