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May 3, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Columbus, Business Loans > Colonial Bank Columbus Business Loans > Marine Products Loan | ||||
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How Do We Get a Business Loan in Columbus, Georgia?
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Financing for Marine FishingWith these commercial loans for marine fishing, the SBA guarantees the lender that the loan will be repaid. This marine fishing loan for $75,000 was given to a Georgia entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Columbus, Georgia was able to borrow $75,000 from Colonial Bank. The SBA made the loan possible by guaranteeing $63,750 of this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: MARINE PRODUCTS SBA Loan Lender COLONIAL BANK This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0919 - Marine Products NAICS Code 114119 - Marine Fishing Loan Approval Date 3/17/2003 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 9 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Colonial Bank and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding - How to Decide How Much to Raise SBA Participating Banks in Columbus, Georgia
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