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May 14, 2024 |
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| Home > Small Business Lenders by State > Tennessee Business Loan Sources > Covington, Business Loans > Branch Bank & Trust Covington Business Loans > Funeral Service And Crematories Loan | ||||
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Covington, Georgia SBA 7A Banks
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Covington, Georgia Bank Gives SBA Loan to Funeral Service And Crematories CompanyWant to talk with a Covington, Georgia bank about an SBA loan? Here's one Tennessee business loan, issued by a Covington bank, that was approved by the SBA. Applying for an SBA loan with Branch Bank & Trust worked out well for our friends at one local firm in Cleveland, Tennessee. They got an SBA loan for $1,250,000. Great job! SBA Loan Borrower COMPANY TYPE: FUNERAL SERVICE AND CREMATORIES SBA Loan Lender BRANCH BANK & TRUST This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7261 - Funeral Service and Crematories NAICS Code 812210 - Funeral Homes and Funeral Services Loan Approval Date 12/2/2003 Loan Approval Gross Amount $1,250,000 Loan Approval from the SBA Of the total $1,250,000 loan amount, the SBA guaranteed $937,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. We can help you find the best banks for small businesses in Cleveland or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Covington, Georgia
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