Atlanta, Georgia Lender Lends Money to Women's And Children's Clothing Company

Get to know Atlanta, Georgia banks that specialize in business loans and know how to work with entrepreneurs. Suntrust Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Mechanicsville, Virginia starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Suntrust Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S AND CHILDREN'S CLOTHING
MECHANICSVILLE, VA 23111

SBA Loan Lender

SUNTRUST BANK
25 PARK PLACE NE
ATLANTA, GA 30303

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5137 - Women's and Children's Clothing

NAICS Code

422330 - Women's, Children's, and Infants' Clothing and Accessories Wholesalers

Loan Approval Date

9/1/2000

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $44,000.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Suntrust 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.

Related Links:

Obtaining Funding - Getting Venture Capital

SBA Banks in Atlanta, Georgia

Georgia SBA Banks