Getting an SBA Loan for Materials Recovery Facilities

With these commercial loans for materials recovery facilities, the SBA guarantees the lender that the loan will be repaid. This materials recovery facilities loan for $150,000 was given to a Georgia entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Suwanee, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Bank Of North Georgia, based in Alpharetta, Georgia.

SBA Loan Borrower

COMPANY TYPE: REFUSE SYSTEMS
SUWANEE, GA 30024

SBA Loan Lender

BANK OF NORTH GEORGIA
8025 WESTSIDE PKWY
ALPHARETTA, GA 30004

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4953 - Refuse Systems

NAICS Code

562920 - Materials Recovery Facilities

Loan Approval Date

6/21/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of North Georgia so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Realistic Debt Financing Options

SBA Participating Banks in Alpharetta, Georgia

Getting a Business Loan in Georgia