SBA Loan from Comerica Bank Helps Furniture Stores Company
Comerica Bank 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.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Norcross, Georgia was able to borrow $472,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $354,000 of this Georgia small business loan.
SBA Loan Borrower
COMPANY TYPE: FURNITURE STORES
NORCROSS, GA 30092
SBA Loan Lender
COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027
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
442110 - Furniture Stores
Loan Approval Date
9/16/2002
Loan Approval Gross Amount
$472,000
Loan Approval from the SBA
Of the total $472,000 loan amount, the SBA guaranteed $354,000.
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 12 employees. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 12 existing jobs.
Start the Process for Getting an SBA Loan Today!
If you are wondering how to raise money for a company in Norcross GA, you ought to talk with a local Norcross SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Norcross businesses.
We can help you find the best banks for small businesses in Norcross or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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