Business Loan from First Intercontinental Bank Given to Full-Service Restaurants Company

An SBA loan from First Intercontinental Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Morrow, Georgia business owner got a $245,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Morrow, Georgia was able to borrow $245,000 from First Intercontinental Bank. The SBA made the loan possible by guaranteeing $183,750 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MORROW, GA 30260

SBA Loan Lender

FIRST INTERCONTINENTAL BANK
5593 BUFORD HWY
DORAVILLE, GA 30340

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

9/14/2007

Loan Approval Gross Amount

$245,000

Loan Approval from the SBA

Of the total $245,000 loan amount, the SBA guaranteed $183,750.

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. This SBA loan request indicated that the loan would help generate 35 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

Related Links:

Financing Your Business

Banks in Doraville, Georgia

Georgia SBA 7A Lenders