Bank Loans for Family Clothing Stores

With these bank loans for family clothing stores, the SBA guarantees the lender that the loan will be repaid. This family clothing stores loan for $150,000 was given to a Georgia entrepreneur in 2003.

Getting a small business loan in Atlanta, Georgia was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bank Of North Georgia, operating out of Covington, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
ATLANTA, GA 30305

SBA Loan Lender

BANK OF NORTH GEORGIA
4159 MILL ST
COVINGTON, GA 30014

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

10/28/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Alternative Financing

Small Bank Loans in Covington, Georgia

Where to Get an SBA Loan Georgia