Atlanta, Georgia Business Gets SBA-Guaranteed Funding from Bank Of North Georgia

Bank Of North Georgia has a track record as a leading provider of SBA loans. Find out how this Georgia entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of North Georgia, out of Marietta, Georgia. The loan was granted and they received $1,030,000 to help grow their Atlanta, Georgia business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ATLANTA, GA 30309

SBA Loan Lender

BANK OF NORTH GEORGIA
269 ROSWELL ST
MARIETTA, GA 30060

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

6/19/2000

Loan Approval Gross Amount

$1,030,000

Loan Approval from the SBA

Of the total $1,030,000 loan amount, the SBA guaranteed $567,787.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower indicated that the funding would help generate 30 new jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

Understanding Dilution

SBA Approved Banks in Marietta, Georgia

SBA Participating Banks in Georgia