SBA Loan from Summit Bank Corporation Helps Drycleaning Plants Company

An SBA loan from Summit Bank Corporation typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Atlanta, Georgia business owner got a $216,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Atlanta, Georgia was able to borrow $216,000 from Summit Bank Corporation. The SBA made the loan possible by guaranteeing $162,000 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING PLANTS
ATLANTA, GA 30316

SBA Loan Lender

SUMMIT BANK CORPORATION
4360 CHAMBLEE-DUNWOODY RD, ST
ATLANTA, GA 30341

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending history and a thorough understanding of SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7216 - Drycleaning Plants

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

7/2/2002

Loan Approval Gross Amount

$216,000

Loan Approval from the SBA

Of the total $216,000 loan amount, the SBA guaranteed $162,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Atlanta GA, you ought to talk with a local Atlanta SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Atlanta businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

How Equity Dilution Works

Where to Get an SBA Loan in Atlanta, Georgia

SBA Participating Banks in Georgia