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December 22, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Atlanta, Business Loans > Summit Bank Corporation Atlanta Business Loans > Beer, Wine, And Liquor Stores Loan | ||||
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Raising Money in Cumming, Georgia With SBA Loans
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Georgia Small Business Loan Issued to Beer, Wine, And Liquor Stores CompanyGeorgiaBank loans are available to Georgia firms through the SBA. In this case, a Georgia bank provides the loan. Getting a small business loan in Cumming, Georgia was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Summit Bank Corporation. Here are the details on this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: BEER, WINE, AND LIQUOR STORES SBA Loan Lender SUMMIT BANK CORPORATION 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 bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 8/16/2001 Loan Approval Gross Amount $1,061,400 Loan Approval from the SBA Of the total $1,061,400 loan amount, the SBA guaranteed $796,050. 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 4 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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. Related Links: Obtaining Funding - Friends and Family Good Banks for Small Business in Atlanta, Georgia Getting a Business Loan in Georgia
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