Doraville, Georgia Lender Lends Money to Full-Service Restaurants Company

Find Doraville, Georgia banks that specialize in business loans and know how to work with entrepreneurs. First Intercontinental Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Duluth, Georgia starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from First Intercontinental Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
DULUTH, GA 30096

SBA Loan Lender

FIRST INTERCONTINENTAL BANK
5593 BUFORD HWY
DORAVILLE, GA 30340

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

2/16/2006

Loan Approval Gross Amount

$1,988,000

Loan Approval from the SBA

Of the total $1,988,000 loan amount, the SBA guaranteed $1,491,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the borrowed money would help generate 14 new jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Intercontinental Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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