Rome, Georgia Business Gets SBA-Guaranteed Funding from Citizens First Bank

Citizens First Bank has a track record as a leading provider of SBA loans. Find out how this Georgia entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Rome, Georgia, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Citizens First Bank, based in Rome, Georgia.

SBA Loan Borrower

COMPANY TYPE: ORTHOPEDIC, PROSTHETIC AND OTHER SURGICAL SUPPLIES
ROME, GA 30165

SBA Loan Lender

CITIZENS FIRST BANK
701 BROAD ST
ROME, GA 30161

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3842 - Orthopedic, Prosthetic and Other Surgical Supplies

NAICS Code

339113 - Surgical Appliance and Supplies Manufacturing

Loan Approval Date

11/7/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Rome GA, you ought to talk with a local Rome SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Rome businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizens First Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

The Friends and Family Network

SBA Approved Banks in Rome, Georgia

SBA Participating Banks in Georgia