Citizens Community Bank Gives SBA Loan to Residential Electric Lighting Fixtures Company

Business loans in Georgia are hard to find these days. We take a look at one Georgia business loan, provided by a Georgia bank, that was approved by the SBA.

By giving the right information to Citizens Community Bank, this Valdosta, Georgia business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL ELECTRIC LIGHTING FIXTURES
VALDOSTA, GA 31602

SBA Loan Lender

CITIZENS COMMUNITY BANK
130 MAIN ST
MORVEN, GA 31638

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3645 - Residential Electric Lighting Fixtures

NAICS Code

335121 - Residential Electric Lighting Fixture Manufacturing

Loan Approval Date

12/7/2000

Loan Approval Gross Amount

$407,542

Loan Approval from the SBA

Of the total $407,542 loan amount, the SBA guaranteed $305,657.

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 11 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Bank Credit Lines

Small Bank Loans in Morven, Georgia

SBA Lenders in Georgia