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April 28, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Columbus, Business Loans > Community Bank & Trust-West Geor Columbus Business Loans > Transportation Equipment And Supplies Loan | ||||
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Fortson Business Loans from Community Bank & Trust-West Geor
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SBA Loan from Community Bank & Trust-West Geor Helps Transportation Equipment And Supplies CompanyAn SBA loan from Community Bank & Trust-West Geor typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fortson, Georgia business owner got a $85,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fortson, Georgia was able to borrow $85,000 from Community Bank & Trust-West Geor. The SBA made the loan possible by guaranteeing $72,250 of this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: TRANSPORTATION EQUIPMENT AND SUPPLIES SBA Loan Lender COMMUNITY BANK & TRUST-WEST GEOR This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423860 - Transportation Equipment and Supplies Loan Approval Date 7/9/2004 Loan Approval Gross Amount $85,000 Loan Approval from the SBA Of the total $85,000 loan amount, the SBA guaranteed $72,250. 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 3 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to increase staffing levels 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Bank & Trust-West Geor and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Microlending as a Small Business Funding Source Best Banks for Small Business in Columbus, Georgia
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