Community W. Bank SBA Loan to Eating Places Company

An SBA loan from Community W. Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kennesaw, Georgia business owner got a $125,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Kennesaw, Georgia, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Community W. Bank, based in Woodstock, Georgia.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
KENNESAW, GA 30144

SBA Loan Lender

COMMUNITY W. BANK
665 MOLLY LN, STE 110
WOODSTOCK, GA 30189

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

8/18/2000

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $93,750.

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 38 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Community W. Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Microlending as a Small Business Funding Source

SBA 7A Lenders in Woodstock, Georgia

Getting an SBA Loan in Georgia