Growing Company Gets a Georgia SBA Loan

Want a Georgia bank loan? This Georgia entrepreneur got a bank loan, provided by a Georgia bank that works with the SBA to help small business owners.

This small business, based in Pearson, 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 - Coffee Cnty. We've got the inside scoop on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION
PEARSON, GA 31642

SBA Loan Lender

FIRST NATIONAL BANK - COFFEE CNTY
420 S MADISON AVE
DOUGLAS, GA 31533

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1611 - Highway and Street Construction

NAICS Code

234110 - Highway and Street Construction

Loan Approval Date

7/19/2002

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. 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. This SBA loan request did not indicate that the small business planned to use the money to hire new employees 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank - Coffee Cnty had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank - Coffee Cnty made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Incubators

SBA Approved Banks in Douglas, Georgia

Georgia SBA 7A Lenders