Georgia Business Loan Issued to General Automotive Repair Company

Want a Georgia business loan? This Georgia entrepreneur got a business loan, provided by a Georgia bank that works with the SBA to help small business owners.

Getting a small business loan in Atlanta, Georgia was a top priority for this SBA-financed company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Security Bank Of North Metro. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
ATLANTA, GA 30341

SBA Loan Lender

SECURITY BANK OF NORTH METRO
155 TOWNE LAKE PKWY
WOODSTOCK, GA 30188

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

3/4/2005

Loan Approval Gross Amount

$517,000

Loan Approval from the SBA

Of the total $517,000 loan amount, the SBA guaranteed $387,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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 $517,000 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.

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