Entrepreneur Works With Valdosta, Georgia Bank to Get an SBA Loan

Get to know Valdosta, Georgia banks that specialize in SBA loans and know how to work with entrepreneurs. First St. Bank & Trust - Valdost is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Valdosta, Georgia starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from First St. Bank & Trust - Valdost. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CATERERS
VALDOSTA, GA 31601

SBA Loan Lender

FIRST ST. BANK & TRUST - VALDOST
3650 INNER PERIMETER RD
VALDOSTA, GA 31602

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722320 - Caterers

Loan Approval Date

4/11/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Valdosta GA, you ought to talk with a local Valdosta SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Valdosta businesses.

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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