SBA Loan from Bank Of North Georgia Helps Chemical Product And Preparation Manufacturing Company

An SBA loan from Bank Of North Georgia typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Flowery Branch, Georgia business owner got a $1,000,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Flowery Branch, Georgia, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Bank Of North Georgia, based in Alpharetta, Georgia.

SBA Loan Borrower

COMPANY TYPE: CHEMICAL PRODUCT AND PREPARATION MANUFACTURING
FLOWERY BRANCH, GA 30542

SBA Loan Lender

BANK OF NORTH GEORGIA
8025 WESTSIDE PKWY
ALPHARETTA, GA 30004

This lender issued this loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

325998 - Chemical Product and Preparation Manufacturing

Loan Approval Date

6/16/2003

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $900,000.

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 5 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

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

Remember, you 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 $1,000,000 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.

Related Links:

Dealing With Venture Capitalists

SBA 7A Banks for Alpharetta, Georgia Loans

Browse All Business Loan Sources for Georgia