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March 28, 2024  
 
 
  Business Loan Information  
 

What Does It Take to Get a Business Loan in Duluth, Georgia?

 

 
Loan Census SBA Loan Info

Where to Get Capital for Full-Service Restaurants

Looking for small business loans for full-service restaurants? Try the SBA. This $100,000 full-service restaurants loan was issued by a Georgia bank.

This company knew how to go about getting a business bank loan. Based in Duluth, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First Intercontinental Bank, based in Doraville, Georgia.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
DULUTH, GA 30096

SBA Loan Lender

FIRST INTERCONTINENTAL BANK
5593 BUFORD HWY
DORAVILLE, GA 30340

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

722110 - Full-Service Restaurants

Loan Approval Date

6/10/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the funding would help generate 20 new jobs.

Next Steps for Getting an SBA Loan

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. First Intercontinental Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Intercontinental 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.

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