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April 27, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Atlanta, Business Loans > Cornerstonebank Atlanta Business Loans > Automotive Transmission Repair Loan | ||||
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How to Get SBA Loans in Douglasville, Georgia
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Automotive Transmission Repair Business LoansLooking for business loans for automotive transmission repair? The SBA may be the answer. This $53,400 automotive transmission repair loan was issued by a Georgia bank. This small business knew how to go about getting a business bank loan. Based in Douglasville, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Cornerstonebank, based in Atlanta, Georgia. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE TRANSMISSION REPAIR SBA Loan Lender CORNERSTONEBANK 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 811113 - Automotive Transmission Repair Loan Approval Date 7/8/2004 Loan Approval Gross Amount $53,400 Loan Approval from the SBA Of the total $53,400 loan amount, the SBA guaranteed $26,700. 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 8 employees. The SBA loan application for the borrower indicated that the borrowed money would help create 5 new jobs. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 for Small Business in Atlanta, Georgia
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