Atlanta, Georgia Business Gets SBA-Guaranteed Funding from First Intercontinental Bank

First Intercontinental 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 Atlanta, Georgia was able to borrow $1,380,000 from First Intercontinental Bank. The SBA made the loan possible by guaranteeing $1,035,000 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
ATLANTA, GA 30310

SBA Loan Lender

FIRST INTERCONTINENTAL BANK
5593 BUFORD HWY
DORAVILLE, GA 30340

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

445110 - Supermarkets and Grocery Stores

Loan Approval Date

5/17/2006

Loan Approval Gross Amount

$1,380,000

Loan Approval from the SBA

Of the total $1,380,000 loan amount, the SBA guaranteed $1,035,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the borrowed money would help generate 7 new jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

How Much Venture Capital Is There?

SBA 7A Banks for Doraville, Georgia Loans

SBA Lenders in Georgia