Business Loan from Primesouth Bank Given to Packaged Frozen Foods Company

Primesouth Bank has a track record as a leading provider of SBA loans. Find out how this Georgia entrepreneur received an SBA loan from them.

Getting a small business loan in Waycross, Georgia was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Primesouth Bank, operating out of Blackshear, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: PACKAGED FROZEN FOODS
WAYCROSS, GA 31501

SBA Loan Lender

PRIMESOUTH BANK
3473 W HWY 84 WEST
BLACKSHEAR, GA 31516

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5142 - Packaged Frozen Foods

NAICS Code

422420 - Packaged Frozen Food Wholesalers

Loan Approval Date

4/19/2000

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $660,000.

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

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Primesouth Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Primesouth 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.

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