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May 2, 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 > Health And Welfare Funds Loan | ||||
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Business Loans from Bank Of North Georgia
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Bank Of North Georgia SBA Loan to Health And Welfare Funds CompanyBank Of North Georgia is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Georgia entrepreneur who tapped into the power of SBA loans. This growing company knew how to go about getting a business bank loan. Based in Atlanta, Georgia, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Bank Of North Georgia, based in Marietta, Georgia. SBA Loan Borrower COMPANY TYPE: HEALTH AND WELFARE FUNDS 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 525120 - Health and Welfare Funds Loan Approval Date 8/30/2005 Loan Approval Gross Amount $275,500 Loan Approval from the SBA Of the total $275,500 loan amount, the SBA guaranteed $206,625. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Best Banks in Marietta, Georgia
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