SBA Loan from Cohutta Banking Company Helps Sporting Goods Stores And Bicycle Shops Company
Cohutta Banking Company is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Tennessee entrepreneur who tapped into the power of SBA loans.
This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Cohutta Banking Company, out of Chatsworth, Georgia. The loan was granted and they received $186,000 to help grow their Hixson, Tennessee business.
SBA Loan Borrower
COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS
HIXSON, TN 37343
SBA Loan Lender
COHUTTA BANKING COMPANY
211 S 3RD AVE
CHATSWORTH, GA 30705
This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5941 - Sporting Goods Stores and Bicycle Shops
NAICS Code
451120 - Hobby, Toy, and Game Stores
Loan Approval Date
11/22/2002
Loan Approval Gross Amount
$186,000
Loan Approval from the SBA
Of the total $186,000 loan amount, the SBA guaranteed $139,500.
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 4 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My 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.
This SBA loan was for $186,000. How would you spend $186,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
Advice on Getting a Small Business Loan
SBA 7A Banks in Chatsworth, Georgia
Georgia SBA Banks