St Simons Island, Georgia Business Gets SBA-Guaranteed Funding from Suntrust Bank

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

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St Simons Island, Georgia was able to borrow $174,500 from Suntrust Bank. The SBA made the loan possible by guaranteeing $130,875 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ST SIMONS ISLAND, GA 31522

SBA Loan Lender

SUNTRUST BANK
2203 DEMERE RD
SAINT SIMONS ISLAND, GA 31522

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 SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/26/2001

Loan Approval Gross Amount

$174,500

Loan Approval from the SBA

Of the total $174,500 loan amount, the SBA guaranteed $130,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 27 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Suntrust Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

SBIR Funding

Who Lends Money to Small Businesses in Saint Simons Island, Georgia

Georgia SBA 7A Lenders