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May 4, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Cordele, Business Loans > South Georgia Banking Company Cordele Business Loans > Book Stores Loan | ||||
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Raising Money in Cordele, Georgia With SBA Loans
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Cordele, Georgia Entrepreneur Gets a Small Business LoanWould a Georgia SBA loan help your business get to the next level? If so, you may want to talk with this Georgia bank, which offers SBA loans to Georgia entrepreneurs. You can learn something about getting a small business loan in Cordele, Georgia by studying this loan to a local business, made back in 2001. Banks like South Georgia Banking Company may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: BOOK STORES SBA Loan Lender SOUTH GEORGIA BANKING COMPANY This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5942 - Book Stores NAICS Code 451211 - Book Stores Loan Approval Date 1/12/2001 Loan Approval Gross Amount $52,000 Loan Approval from the SBA Of the total $52,000 loan amount, the SBA guaranteed $44,200. 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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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. Related Links:
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