 |
 |
November 14, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Georgia Business Loan Sources > Atlanta, Business Loans > United Commercial Bank Atlanta Business Loans > Convenience Stores Loan | ||||
 |
||||
I Need an SBA Loan in Marietta, Georgia
|
||||
 |
Where to Get Capital for Convenience StoresWith these small business loans for convenience stores, the SBA guarantees the lender that the loan will be repaid. This convenience stores loan for $1,080,000 was given to a Georgia entrepreneur in 2002. This company knew how to go about getting a business bank loan. Based in Marietta, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was United Commercial Bank, based in Atlanta, Georgia. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender UNITED COMMERCIAL BANK 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 445120 - Convenience Stores Loan Approval Date 7/25/2002 Loan Approval Gross Amount $1,080,000 Loan Approval from the SBA Of the total $1,080,000 loan amount, the SBA guaranteed $810,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 7A Lenders in Atlanta, Georgia
|
|
||
|
||||
|
|
||||