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November 14, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Atlanta, Business Loans > Cornerstonebank Atlanta Business Loans > Synthetic Organic Dye And Pigment Manufacturing Loan | ||||
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SBA Loan from Cornerstonebank
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Atlanta, Georgia Business Gets SBA-Guaranteed Funding from CornerstonebankAn SBA loan from Cornerstonebank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Atlanta, Georgia business owner got a $565,000 loan. Getting a small business loan in Atlanta, Georgia was an essential business goal for this firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Cornerstonebank, operating out of Atlanta, Georgia. Here are the details on this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: SYNTHETIC ORGANIC DYE AND PIGMENT MANUFACTURING SBA Loan Lender CORNERSTONEBANK This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 325132 - Synthetic Organic Dye and Pigment Manufacturing Loan Approval Date 9/5/2003 Loan Approval Gross Amount $565,000 Loan Approval from the SBA Of the total $565,000 loan amount, the SBA guaranteed $423,750. 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 14 employees. The loan application did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cornerstonebank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Dealing With Venture Capitalists
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