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May 13, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Kennesaw, Business Loans > Georgia State Bank Kennesaw Business Loans > Lawyers Loan | ||||
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Woodstock, Georgia Bank Loan
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Firm Gets a Georgia Small Business LoanSmall business loans in Georgia are hard to find these days. We take a look at one Georgia small business loan, provided by a Georgia bank, that was approved by the SBA. Getting a small business loan in Woodstock, Georgia was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Georgia State Bank. Here are the details on this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: LAWYERS SBA Loan Lender GEORGIA STATE BANK This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires 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. NAICS Code 541110 - Lawyers Loan Approval Date 9/21/2005 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $34,000. 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 SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 $40,000 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: Advice on Getting a Small Business Loan SBA Banks in Kennesaw, Georgia Browse All Business Loan Sources for Georgia
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