Georgia Trust Bank Gives Bank Loan to Full-Service Restaurants Company

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

Getting a small business loan in Buford, Georgia was a top priority for this small company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Georgia Trust Bank. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BUFORD, GA 30519

SBA Loan Lender

GEORGIA TRUST BANK
2725 MALL OF GEORGIA BLVD
BUFORD, GA 30519

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 SBA loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/31/2007

Loan Approval Gross Amount

$320,500

Loan Approval from the SBA

Of the total $320,500 loan amount, the SBA guaranteed $240,375.

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 30 employees. The SBA loan documents indicated that the loan would help retain 30 existing jobs.

Next Steps for Getting an SBA Loan

If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

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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