Bank Of North Georgia SBA Loan to Optical Goods Stores Company

Looking to get a Georgia SBA loan? Here's one Georgia business loan that was approved by the SBA.

This local small business knew how to go about getting a business bank loan. Based in Duluth, Georgia, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Bank Of North Georgia, based in Marietta, Georgia.

SBA Loan Borrower

COMPANY TYPE: OPTICAL GOODS STORES
DULUTH, GA 30096

SBA Loan Lender

BANK OF NORTH GEORGIA
1200 JOHNSON FERRY RD
MARIETTA, GA 30068

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5995 - Optical Goods Stores

Loan Approval Date

2/2/2000

Loan Approval Gross Amount

$448,000

Loan Approval from the SBA

Of the total $448,000 loan amount, the SBA guaranteed $336,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 5 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Bank Of North Georgia had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Bank Of North Georgia 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:

Accountant's Role in Securing Financing

SBA 7A Banks for Marietta, Georgia Loans

Getting a Business Loan in Georgia