SBA Loan from United Commercial Bank Helps Drycleaning And Laundry Services Company

An SBA loan from United Commercial Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lilburn, Georgia business owner got a $188,000 loan.

This business knew how to go about getting a business bank loan. Based in Lilburn, Georgia, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was United Commercial Bank, based in Atlanta, Georgia.

SBA Loan Borrower

COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES
LILBURN, GA 30047

SBA Loan Lender

UNITED COMMERCIAL BANK
4360 CHAMBLEE-DUNWOODY RD
ATLANTA, GA 30341

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

812320 - Drycleaning and Laundry Services

Loan Approval Date

3/13/2002

Loan Approval Gross Amount

$188,000

Loan Approval from the SBA

Of the total $188,000 loan amount, the SBA guaranteed $141,000.

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 4 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into United Commercial Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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