Northwest Georgia Bank SBA Loan to Textile Machinery Company

An SBA loan from Northwest Georgia Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Ringgold, Georgia business owner got a $500,000 loan.

Getting a small business loan in Ringgold, Georgia was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Northwest Georgia Bank, operating out of Ringgold, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE MACHINERY
RINGGOLD, GA 30736

SBA Loan Lender

NORTHWEST GEORGIA BANK
5063 ALABAMA HWY
RINGGOLD, GA 30736

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 7A business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3552 - Textile Machinery

NAICS Code

333292 - Textile Machinery Manufacturing

Loan Approval Date

7/20/2000

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 35 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Ringgold 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.

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