SBA Loan from Regions Bank Helps Limited-Service Restaurants Company

An SBA loan from Regions Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lovejoy, Georgia business owner got a $118,500 loan.

Getting a small business loan in Lovejoy, Georgia was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Regions Bank, operating out of Birmingham, Alabama. Here are the details on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Lovejoy, GA 30250

SBA Loan Lender

REGIONS BANK
417 NORTH 20TH ST
BIRMINGHAM, AL 35203

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/2/2006

Loan Approval Gross Amount

$118,500

Loan Approval from the SBA

Of the total $118,500 loan amount, the SBA guaranteed $59,250.

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 6 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $118,500 loan. Remember, feel the fear, and do it anyway.

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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