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May 7, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Douglas, Business Loans > First National Bank - Coffee Cnty Douglas Business Loans > Highway And Street Construction Loan | ||||
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How to Get Commercial Loans in Pearson, Georgia
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Growing Company Gets a Georgia SBA LoanWant a Georgia bank loan? This Georgia entrepreneur got a bank loan, provided by a Georgia bank that works with the SBA to help small business owners. This small business, based in Pearson, 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 First National Bank - Coffee Cnty. We've got the inside scoop on this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: HIGHWAY AND STREET CONSTRUCTION SBA Loan Lender FIRST NATIONAL BANK - COFFEE CNTY This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1611 - Highway and Street Construction NAICS Code 234110 - Highway and Street Construction Loan Approval Date 7/19/2002 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank - Coffee Cnty had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank - Coffee Cnty made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Approved Banks in Douglas, Georgia
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