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November 14, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Atlanta, Business Loans > United Commercial Bank Atlanta Business Loans > Furniture Stores Loan | ||||
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Small Business Banks in Georgia
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Furniture Stores Small Business LoansWith these small business loans for furniture stores, the SBA guarantees the lender that the loan will be repaid. This furniture stores loan for $287,500 was given to a Georgia entrepreneur in 2001. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with United Commercial Bank, out of Atlanta, Georgia. The loan was granted and they received $287,500 to help grow their Duluth, Georgia business. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender UNITED COMMERCIAL BANK When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program was created to provide speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442110 - Furniture Stores Loan Approval Date 4/25/2001 Loan Approval Gross Amount $287,500 Loan Approval from the SBA Of the total $287,500 loan amount, the SBA guaranteed $215,625. 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 50 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. United Commercial Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, United Commercial Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Dealing With Venture Capitalists Getting a Business Loan in Georgia
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