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May 19, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Perry, Business Loans > The Bank Of Perry Perry Business Loans > Automotive Parts And Accessories Stores Loan | ||||
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Raising Money in Macon, Georgia With SBA Loans
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The Bank Of Perry Gives SBA Loan to Automotive Parts And Accessories Stores CompanyGeorgiaBusiness loans are available to Georgia business owners through the SBA. In this case, a Georgia bank provides the loan. This business, based in Macon, Georgia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Bank Of Perry. We've got the inside scoop on this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE PARTS AND ACCESSORIES STORES SBA Loan Lender THE BANK OF PERRY 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. NAICS Code 441310 - Automotive Parts and Accessories Stores Loan Approval Date 5/17/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 3 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Bank Of Perry and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Find an SBA Lender in Perry, Georgia
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