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December 19, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Valdosta, Business Loans > Commercial Banking Company Valdosta Business Loans > Full-Service Restaurants Loan | ||||
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Raising Money for Full-Service RestaurantsLooking for business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $150,000 full-service restaurants loan was issued by a Georgia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Valdosta, Georgia was able to borrow $150,000 from Commercial Banking Company. The SBA made the loan possible by guaranteeing $127,500 of this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender COMMERCIAL BANKING COMPANY This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/17/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. 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. 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 $150,000 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: Raising VC Money for Social Networking Companies Best Banks for Small Business in Valdosta, Georgia Browse All Business Loan Sources for Georgia
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