Georgia Entrepreneur Secures Financing to Buy Mr. Electric Franchise

Need money to purchase a Mr. Electric franchise? First National Bank Of Georgia has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mr. Electric franchise may simply require a phone call to a local SBA banker. In 2006, First National Bank Of Georgia issued an SBA franchise loan to an entrepreneur in Carrollton, Georgia. Because Mr. Electric was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis.

SBA Loan Borrower

MR. ELECTRIC OF WEST GEORGIA
CARROLLTON, GA 30117

SBA Loan Lender

FIRST NATIONAL BANK OF GEORGIA
201 MAPLE ST
CARROLLTON, GA 30117

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

9/15/2006

Loan Approval Gross Amount

$149,900

Loan Approval from the SBA

Of the total $149,900 loan amount, the SBA guaranteed $127,415.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mr. Electric franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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Small Bank Loans in Carrollton, Georgia

Getting an SBA Loan in Georgia