SBA Loan from United Community Bank Helps General Contracting For Residential Buildings Company

An SBA loan from United Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Snellville, Georgia business owner got a $150,000 loan.

Getting a small business loan in Snellville, Georgia was an essential business goal for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from United Community Bank, operating out of Lawrenceville, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL CONTRACTING FOR RESIDENTIAL BUILDINGS
SNELLVILLE, GA 30078

SBA Loan Lender

UNITED COMMUNITY BANK
2230 RIVERSIDE PKWY
LAWRENCEVILLE, GA 30043

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1522 - General Contracting for Residential Buildings

NAICS Code

233320 - Commercial and Institutional Building Construction

Loan Approval Date

4/3/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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