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April 27, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Doraville, Business Loans > Metro City Bank Doraville Business Loans > Limited-Service Restaurants Loan | ||||
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SBA Lenders for Business Owners in Georgia
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Metro City Bank Gives Bank Loan to Limited-Service Restaurants CompanyGeorgiaBusiness loans are available to Georgia business owners through the SBA. In this case, a Georgia bank provides the loan. This small business, based in Atlanta, Georgia, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Metro City Bank. We've got the inside scoop on this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender METRO CITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 7/3/2006 Loan Approval Gross Amount $37,600 Loan Approval from the SBA Of the total $37,600 loan amount, the SBA guaranteed $18,800. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Metro City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Metro City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Banks in Doraville, Georgia
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