Bank Of America Gives SBA Loan to Management Consulting Services Company

Small business loans in Georgia are hard to find these days. We take a look at one Georgia small business loan, provided by a North Carolina bank, that was approved by the SBA.

Getting a small business loan in Atlanta, Georgia was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: MANAGEMENT CONSULTING SERVICES
ATLANTA, GA 30318

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541618 - Management Consulting Services

Loan Approval Date

11/26/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business 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.

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.

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