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November 15, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Tifton, Business Loans > First Community Bank Of Tifton Tifton Business Loans > Plumbing And Heating Equipment And Supplies Merchant Wholesaler Loan | ||||
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SBA Loan from First Community Bank Of Tifton
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Tifton, Georgia Business Gets SBA-Guaranteed Funding from First Community Bank Of TiftonFirst Community Bank Of Tifton 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. This business knew how to go about getting a business bank loan. Based in Tifton, Georgia, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was First Community Bank Of Tifton, based in Tifton, Georgia. SBA Loan Borrower COMPANY TYPE: PLUMBING AND HEATING EQUIPMENT AND SUPPLIES MERCHANT WHOLESALER SBA Loan Lender FIRST COMMUNITY BANK OF TIFTON This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423720 - Plumbing and Heating Equipment and Supplies Merchant Wholesaler Loan Approval Date 2/21/2003 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 only one employee. The loan application did not indicate that the business promised to use the money to add employees 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $500,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Lenders in Tifton, Georgia
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