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December 22, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Marietta, Business Loans > Bank Of North Georgia Marietta Business Loans > Industrial Supplies Merchant Wholesalers Loan | ||||
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How to Get SBA Loans from Bank Of North Georgia
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Lawrenceville, Georgia Business Gets SBA-Guaranteed Funding from Bank Of North GeorgiaBank Of North Georgia is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Georgia entrepreneur who tapped into the power of SBA loans. Getting a small business loan in Lawrenceville, Georgia was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank Of North Georgia, operating out of Marietta, Georgia. Here are the details on this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender BANK OF NORTH GEORGIA Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423840 - Industrial Supplies Merchant Wholesalers Loan Approval Date 12/15/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 13 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 13 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Family and Friend Investors - Your First Financiers SBA Participating Banks in Marietta, Georgia Getting an SBA Loan in Georgia
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