Signature Bank of Georgia makes it easy for your business to obtain an SBA loan from $100,000 to $5,000,000. As a designated Preferred Lender, we have delegated authorities from the Small Business Administration (SBA), which in certain situations allows us to streamline the overall approval process.
An SBA loan can be a game-changer for your business. Simply follow the steps below to get started.
Step 1: Pre-qualify
Contact our experienced Government Guaranteed Loan Specialist at 770-206-5363 or email to firstname.lastname@example.org. Give a brief overview of your project and financing needs so the banker can quickly tell you “yes you have a bank-able deal” or “no, I’m sorry, you are not quite ready for a bank loan.”
Step 2: Create an account and complete the online application
To get started, just provide basic contact information to create an account. Once the contact has been created, our online application will guide you through the process.
Step 3: Determine eligibility
Your Government Guaranteed Loan Specialist will review your loan request, including your credit and financial information. If all looks good, we will generate a term sheet clearly illustrating the terms and conditions of how the bank will underwrite and present the loan for approval.
Step 4: Approval
Once you have accepted the conditions of the term sheet, we will ask you for a deposit to show your commitment to moving forward with us.
We will then proceed to underwriting for formal approval. Generally, this process takes anywhere from 3-4 weeks after which you will receive an official commitment letter ready for you to sign.
Step 5: Funding
Over the next 30 days or so, our team will help you throughout the process – until the signed loan documents and funds are put into your bank account. Congratulations! You are now ready to build something special with your SBA loan.
Information Needed to Apply
A variety of information and documents are needed to complete the application process and are summarized below. The documentation required varies depending on the size of your loan request. In general, larger loans and/or projection-based loans require more documentation. The good news is once you have created an account, you can stop and start the application process whenever you want and your information will be saved.
Names of owners and ownership percentages
Social Security number
Valid driver’s license or passport information
Personal financial information
3 years personal tax returns including all schedules
Business name and contact details
Type of business
Date of inception
Tax identification number
Previous government loan history
Management team information
Business plan (if applicable)
Business financial information
Formation and other business documentation
3 years business tax returns including all schedules