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November 14, 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 > Water, Sewer, And Pipeline Construction Loan | ||||
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GA SBA Loan from Bank Of North Georgia
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Marietta, Georgia Business Gets SBA-Guaranteed Funding from Bank Of North GeorgiaBank Of North Georgia and the SBA work together to get business loans for growing small businesses. Here's an example of how a Georgia entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Marietta, Georgia was an essential business goal for this small business back in 2001 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: WATER, SEWER, AND PIPELINE CONSTRUCTION SBA Loan Lender BANK OF NORTH GEORGIA This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 234910 - Water, Sewer, and Pipeline Construction Loan Approval Date 10/22/2001 Loan Approval Gross Amount $600,000 Loan Approval from the SBA Of the total $600,000 loan amount, the SBA guaranteed $450,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: SBA 7A Banks in Marietta, Georgia
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