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May 17, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Savannah, Business Loans > The Coastal Bank Savannah Business Loans > Boat Building And Repairing Loan | ||||
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Georgia Bank SBA Loans
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The Coastal Bank SBA Loan to Boat Building And Repairing CompanyLooking to get a Georgia SBA loan? Here's one Georgia business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Thunderbolt, Georgia was able to borrow $30,000 from The Coastal Bank. The SBA made the loan possible by guaranteeing $24,000 of this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: BOAT BUILDING AND REPAIRING SBA Loan Lender THE COASTAL BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3732 - Boat Building and Repairing Loan Approval Date 3/6/2000 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $24,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 9 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. Next Steps for Getting an SBA Loan 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $30,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: The Friends and Family Network Small Bank Loans in Savannah, Georgia
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