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October 19, 2020  
 
 
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Georgia Small Business SBA Loans

 

 
Loan Census SBA Loan Info

Fidelity Bank Gives Bank Loan to Full-Service Restaurants Company

Would a Georgia bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this Georgia bank, which offers SBA loans to Georgia entrepreneurs.

This business, based in Doraville, 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 Fidelity Bank. We've got the inside scoop on this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Doraville, GA 30340

SBA Loan Lender

FIDELITY BANK
3490 PIEDMONT RD NE, STE 124
ATLANTA, GA 30305

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/4/2006

Loan Approval Gross Amount

$980,000

Loan Approval from the SBA

Of the total $980,000 loan amount, the SBA guaranteed $735,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Fidelity Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Fidelity 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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