Parsons, Tennessee Bank Lends Money to Hotels And Motels Company in Union City, Georgia
Get small business loans from a Parsons, Tennessee bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.
Community So. Bank D.B.A Commun is a Parsons, Tennessee small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Georgia company.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
Union City, GA 30291
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363
This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
721110 - Hotels and Motels
Loan Approval Date
12/11/2007
Loan Approval Gross Amount
$1,680,000
Loan Approval from the SBA
Of the total $1,680,000 loan amount, the SBA guaranteed $1,260,000.
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 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.
Start the Process for Getting an SBA Loan Today!
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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.
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