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May 3, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Atlanta, Business Loans > Citizens Trust Bank Atlanta Business Loans > Family Clothing Stores Loan | ||||
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How to Get SBA Loans in Lithonia, Georgia
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How to Get a Loan for Family Clothing StoresLooking for business loans for family clothing stores? The SBA may be the answer. This $75,000 family clothing stores loan was issued by a Georgia bank. This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Citizens Trust Bank, out of Atlanta, Georgia. The loan was granted and they received $75,000 to help grow their Lithonia, Georgia business. SBA Loan Borrower COMPANY TYPE: FAMILY CLOTHING STORES SBA Loan Lender CITIZENS TRUST 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. SIC Code 5651 - Family Clothing Stores NAICS Code 448140 - Family Clothing Stores Loan Approval Date 6/23/2000 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $56,250. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the borrowed money would help create 1 new job. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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:
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