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May 2, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Douglas, Business Loans > Colony Bank Southeast Douglas Business Loans > Business Services Loan | ||||
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Business Loans for Douglas Businesses
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Services to Buildings and Dwellings LoansLooking for loans for services to buildings and dwellings? An SBA loan may be just what you've been looking for. This $97,000 services to buildings and dwellings loan was issued by a Georgia bank. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Colony Bank Southeast, out of Douglas, Georgia. The loan was granted and they received $97,000 to help grow their Douglas, Georgia business. SBA Loan Borrower COMPANY TYPE: BUSINESS SERVICES SBA Loan Lender COLONY BANK SOUTHEAST This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7389 - Business Services NAICS Code 561790 - Services to Buildings and Dwellings Loan Approval Date 10/9/2001 Loan Approval Gross Amount $97,000 Loan Approval from the SBA Of the total $97,000 loan amount, the SBA guaranteed $82,450. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Microlending as a Small Business Funding Source SBA 7A Banks for Douglas, Georgia Loans
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