Georgia Small Business Loan Issued to Racetracks Company

Would 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.

Getting a small business loan in Cordele, Georgia was a top priority for this particular business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Darby Bank & Trust. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: RACETRACKS
CORDELE, GA 31015

SBA Loan Lender

DARBY BANK & TRUST
300 E FIRST ST
VIDALIA, GA 30474

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

711212 - Racetracks

Loan Approval Date

8/24/2001

Loan Approval Gross Amount

$645,000

Loan Approval from the SBA

Of the total $645,000 loan amount, the SBA guaranteed $483,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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