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April 28, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Marietta, Business Loans > Bank Of North Georgia Marietta Business Loans > Security Guards And Patrol Services Loan | ||||
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Bank Of North Georgia Gives Bank Loan to Security Guards And Patrol Services CompanyBank loans in Georgia are tough to come by these days. We take a look at one Georgia bank loan, provided by a Georgia bank, that was approved by the SBA. By giving the right information to Bank Of North Georgia, this Waleska, Georgia business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: SECURITY GUARDS AND PATROL SERVICES SBA Loan Lender BANK OF NORTH GEORGIA 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. NAICS Code 561612 - Security Guards and Patrol Services Loan Approval Date 10/20/2004 Loan Approval Gross Amount $315,000 Loan Approval from the SBA Of the total $315,000 loan amount, the SBA guaranteed $236,250. 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 55 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 53 existing 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of North Georgia and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Marietta, Georgia Browse All Business Loan Sources for Georgia
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