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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 > Full-Service Restaurants Loan | ||||
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How to Get a Business Loan from The Coastal Bank
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Rincon, Georgia Business Gets SBA-Guaranteed Funding from The Coastal BankThe Coastal 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. This growing company knew how to go about getting a business bank loan. Based in Rincon, Georgia, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was The Coastal Bank, based in Savannah, Georgia. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender THE COASTAL BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program involves 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. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 1/15/2004 Loan Approval Gross Amount $145,000 Loan Approval from the SBA Of the total $145,000 loan amount, the SBA guaranteed $123,250. 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 8 employees. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. We can help you find the best banks for small businesses in Rincon or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Best Banks in Savannah, Georgia
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