SBA Loan from Southeastern Bank Helps Limited-Service Restaurants Company

Southeastern Bank 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.

Getting a small business loan in Richmond Hill, Georgia was an essential business goal for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Southeastern Bank, operating out of Richmond Hill, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
RICHMOND HILL, GA 31324

SBA Loan Lender

SOUTHEASTERN BANK
2004 HWY 17
RICHMOND HILL, GA 31324

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/10/2004

Loan Approval Gross Amount

$72,420

Loan Approval from the SBA

Of the total $72,420 loan amount, the SBA guaranteed $61,557.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Southeastern Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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