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November 15, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Savannah, Business Loans > The Coastal Bank Savannah Business Loans > New Single-Family Housing Construction Loan | ||||
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Getting a Small Business Loan from The Coastal Bank
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Richmond Hill, Georgia Business Gets SBA-Guaranteed Funding from The Coastal BankAn SBA loan from The Coastal Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Richmond Hill, Georgia business owner got a $111,620 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Richmond Hill, Georgia was able to borrow $111,620 from The Coastal Bank. The SBA made the loan possible by guaranteeing $94,877 of this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: NEW SINGLE-FAMILY HOUSING CONSTRUCTION SBA Loan Lender THE COASTAL BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 236115 - New Single-Family Housing Construction Loan Approval Date 6/18/2007 Loan Approval Gross Amount $111,620 Loan Approval from the SBA Of the total $111,620 loan amount, the SBA guaranteed $94,877. 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 SBA loan documents indicated that the loan would help generate 2 new jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The Coastal Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The Coastal Bank 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: Determining Proper Capital Structure for a Business Best Savannah, Georgia Banks for Small Business
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