Metro City Bank Gives Small Business Loan to Automotive Body, Paint, And Interior Repair And Maintenance Company

Looking to get a Georgia business loan? This Georgia entrepreneur got a business loan, provided by a Georgia bank that works with the SBA to help small business owners.

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

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE
DULUTH, GA 30096

SBA Loan Lender

METRO CITY BANK
5441 BUFORD HWY
DORAVILLE, GA 30340

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

10/3/2007

Loan Approval Gross Amount

$951,000

Loan Approval from the SBA

Of the total $951,000 loan amount, the SBA guaranteed $713,250.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Duluth GA, you ought to talk with a local Duluth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Duluth businesses.

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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