SBA Loan from Citizens Bank & Tr - W. Georgia Helps Full-Service Restaurants Company

An SBA loan from Citizens Bank & Tr - W. Georgia typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Carrollton, Georgia business owner got a $252,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Citizens Bank & Tr - W. Georgia, out of Carrollton, Georgia. The loan was granted and they received $252,000 to help grow their Carrollton, Georgia business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CARROLLTON, GA 30117

SBA Loan Lender

CITIZENS BANK & TR - W. GEORGIA
115 COLLEGE ST
CARROLLTON, GA 30117

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/12/2004

Loan Approval Gross Amount

$252,000

Loan Approval from the SBA

Of the total $252,000 loan amount, the SBA guaranteed $189,000.

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 only one employee. The SBA loan documents indicated that the loan would help generate 24 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $252,000 loan. Remember, feel the fear, and do it anyway.

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:

Understanding Dilution

SBA Approved Banks in Carrollton, Georgia

Georgia SBA 7A Lenders