Business Loan from First National Bank South Given to Construction And Mining Machinery And Equipment Merchant Company

An SBA loan from First National Bank South typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Valdosta, Georgia business owner got a $250,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Valdosta, Georgia, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was First National Bank South, based in Alma, Georgia.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT MERCHANT
VALDOSTA, GA 31603

SBA Loan Lender

FIRST NATIONAL BANK SOUTH
423 W 12TH ST
ALMA, GA 31510

This lender provides SBA commercial 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

423810 - Construction and Mining Machinery and Equipment Merchant

Loan Approval Date

5/15/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 28 employees. This SBA loan request indicated that the funding would help create 28 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First National Bank South and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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