First Coast Community Bank SBA Loan to Women's Clothing Stores Company

First Coast Community 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 Saint Marys, Georgia was an essential business goal for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Coast Community Bank, operating out of Fernandina Beach, Florida. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
SAINT MARYS, GA 31558

SBA Loan Lender

FIRST COAST COMMUNITY BANK
1750 S 14TH ST
FERNANDINA BEACH, FL 32034

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

7/13/2004

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $42,500.

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. This SBA loan request indicated that the loan would help generate 1 new job and retain 3 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 First Coast Community 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:

Business Line of Credit

SBA 7A Banks for Fernandina Beach, Florida Loans

Getting an SBA Loan in Florida