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April 29, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Atlanta, Business Loans > Fidelity Bank Atlanta Business Loans > Supermarkets And Grocery Stores Loan | ||||
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SBA Lender Atlanta
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Atlanta, Georgia Bank Lends Money to Supermarkets And Grocery Stores Company in Carrollton, GeorgiaThinking about meeting with an Atlanta, Georgia bank about a small business loan? Here's one Georgia business loan, issued by an Atlanta bank, that was approved by the SBA. Applying for an SBA loan with Fidelity Bank worked out well for our friends at one local business in Carrollton, Georgia. They got an SBA loan for $228,000. Sweet! SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender FIDELITY BANK 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 5/8/2006 Loan Approval Gross Amount $228,000 Loan Approval from the SBA Of the total $228,000 loan amount, the SBA guaranteed $171,000. More Information on This SBA Loan The borrower borrowed this money for a new 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 10 employees. The SBA loan documents indicated that the loan would help generate 13 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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 Atlanta, Georgia Banks for Small Business Getting a Business Loan in Georgia
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