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May 6, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Newnan, Business Loans > Bank Of Coweta Newnan Business Loans > Furniture Stores Loan | ||||
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How to Get SBA Money in Newnan, Georgia
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Bank Of Coweta Gives Small Business Loan to Furniture Stores CompanyGeorgiaBank loans are available to Georgia firms through the SBA. In this case, a Georgia bank provides the loan. You can learn something about getting a small business loan in Newnan, Georgia by studying this loan to a local company, made back in 2003. Banks like Bank Of Coweta may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender BANK OF COWETA The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA small business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442110 - Furniture Stores Loan Approval Date 3/19/2003 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 only one employee. The SBA loan documents 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 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. 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 Bank Of Coweta 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: Determining Proper Capital Structure for a Business Good Banks for Small Business in Newnan, Georgia Getting an SBA Loan in Georgia
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