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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 > Motor Vehicle Dealers Loan | ||||
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How Hard Is It to Get a Small Business Loan in Perry, Georgia?
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How to Get a Loan for Motor Vehicle DealersLooking for commercial loans for motor vehicle dealers? Try the SBA. This $281,000 motor vehicle dealers loan was issued by a Georgia bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Perry, Georgia was able to borrow $281,000 from First National Bank - Coffee Cnty. The SBA made the loan possible by guaranteeing $210,750 of this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE DEALERS SBA Loan Lender FIRST NATIONAL BANK - COFFEE CNTY This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 441229 - Motor Vehicle Dealers Loan Approval Date 12/22/2004 Loan Approval Gross Amount $281,000 Loan Approval from the SBA Of the total $281,000 loan amount, the SBA guaranteed $210,750. 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 2 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your 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: Family and Friend Investors - Your First Financiers Find an SBA Lender in Douglas, Georgia
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