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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 > Georgetown True Value Hardware Loan | ||||
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Good Sources for Savannah SBA Loans
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Savannah, GA Entrepreneur Gets SBA Loan to Buy True Value Hardware FranchiseNeed a loan to buy a True Value Hardware franchise? The Coastal Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Savannah, Georgia needed money to invest in a True Value Hardware franchise back in 2002. The Coastal Bank issued an SBA franchise loan. Here are the details on this Georgia small business loan. SBA Loan Borrower GEORGETOWN TRUE VALUE HARDWARE SBA Loan Lender THE COASTAL BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5251 - Hardware Stores NAICS Code 444130 - Hardware Stores Loan Approval Date 3/25/2002 Loan Approval Gross Amount $935,000 Loan Approval from the SBA Of the total $935,000 loan amount, the SBA guaranteed $701,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a True Value Hardware franchise. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Coastal Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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 for Small Business in Savannah, Georgia
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