Colony Bank Southeast SBA Loan to Hotels And Motels Company

An SBA loan from Colony Bank Southeast typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fitzgerald, Georgia business owner got a $570,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fitzgerald, Georgia was able to borrow $570,000 from Colony Bank Southeast. The SBA made the loan possible by guaranteeing $427,500 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
FITZGERALD, GA 31750

SBA Loan Lender

COLONY BANK SOUTHEAST
625 W WARD ST
DOUGLAS, GA 31533

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

721110 - Hotels and Motels

Loan Approval Date

9/16/2004

Loan Approval Gross Amount

$570,000

Loan Approval from the SBA

Of the total $570,000 loan amount, the SBA guaranteed $427,500.

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 6 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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