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May 4, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Richmond, Business Loans > Suntrust Bank Richmond Business Loans > Women's Clothing Stores Loan | ||||
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Getting Commercial Loans in Newnan, Georgia
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Newnan, Georgia Entrepreneur Gets a Business LoanSBA loans in Georgia are are few and far betweeen these days. We take a look at one Georgia SBA loan, provided by a Virginia bank, that was approved by the SBA. You can learn something about getting a small business loan in Newnan, Georgia by studying this loan to a local business, made back in 2007. Banks like Suntrust Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: WOMEN'S CLOTHING STORES SBA Loan Lender SUNTRUST BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 448120 - Women's Clothing Stores Loan Approval Date 8/20/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 8 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Who Lends Money to Small Businesses in Richmond, Virginia
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