Borrowing Money for Food Manufacturing

With these bank loans for food manufacturing, the SBA guarantees the lender that the loan will be repaid. This food manufacturing loan for $1,300,000 was given to a Georgia entrepreneur in 2006.

Getting a small business loan in East Point, Georgia was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Haven Trust Bank, operating out of Duluth, Georgia. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD MANUFACTURING
EAST POINT, GA 30096

SBA Loan Lender

HAVEN TRUST BANK
6340 SUGARLOAF PKWY, STE 100
DULUTH, GA 30097

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.

NAICS Code

311999 - Food Manufacturing

Loan Approval Date

6/5/2006

Loan Approval Gross Amount

$1,300,000

Loan Approval from the SBA

Of the total $1,300,000 loan amount, the SBA guaranteed $975,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,300,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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