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May 12, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > New Orleans, Business Loans > Gulf Coast Bank & Trust New Orleans Business Loans > Professional, Scientific, And Technical Services Loan | ||||
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Raising Money in Mcdonough, Georgia With SBA Loans
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Mcdonough, Georgia Entrepreneur Gets a Bank LoanGeorgiaBusiness loans are available to Georgia business owners through the SBA. In this case, a Louisiana bank provides the loan. Getting a small business loan in Mcdonough, Georgia was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Gulf Coast Bank & Trust. Here are the details on this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES SBA Loan Lender GULF COAST BANK & TRUST As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541990 - Professional, Scientific, and Technical Services Loan Approval Date 7/19/2006 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 16 employees. The loan application indicated that the loan would help retain 16 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Good Banks for Small Business in New Orleans, Louisiana
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