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May 1, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Douglas, Business Loans > Colony Bank Southeast Douglas Business Loans > Pharmacies And Drug Stores Loan | ||||
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Banks Doing SBA Loans in Georgia
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Douglas, Georgia Bank Gives SBA Loan to Pharmacies And Drug Stores CompanyThinking about meeting with a Douglas, Georgia bank about a small business loan? Here's one Georgia business loan, issued by a Douglas bank, that was approved by the SBA. Applying for an SBA loan with Colony Bank Southeast worked out well for our friends at one local company in Moultrie, Georgia. The business was able to get an SBA loan for $840,000. Way to go! SBA Loan Borrower COMPANY TYPE: PHARMACIES AND DRUG STORES SBA Loan Lender COLONY BANK SOUTHEAST As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 446110 - Pharmacies and Drug Stores Loan Approval Date 7/17/2006 Loan Approval Gross Amount $840,000 Loan Approval from the SBA Of the total $840,000 loan amount, the SBA guaranteed $630,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 11 employees. This SBA loan request indicated that the loan would help retain 10 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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: Obtaining Funding From a Venture Capitalist SBA Participating Banks in Douglas, Georgia Getting an SBA Loan in Georgia
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