Security Bank Of North Fulton Provides SBA Loan to Buy Snip-Its Franchise

Borrowing money to buy a Snip-Its franchise? Security Bank Of North Fulton has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Snip-Its franchise shouldn't be too tough. In 2005, Security Bank Of North Fulton issued an SBA franchise loan to an entrepreneur in Atlanta, Georgia. Because Snip-Its was registered with the SBA's registry of franchises, this Georgia small business loan was issued on an expedited basis.

SBA Loan Borrower

SNIP-ITS (SNIP-ITS BUCKHEAD LL
ATLANTA, GA 30305

SBA Loan Lender

SECURITY BANK OF NORTH FULTON
2380 OLD MILTON PKWY
ALPHARETTA, GA 30004

This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

5/3/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Snip-Its franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Atlanta or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Snip-Its

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SBA 7A Banks for Alpharetta, Georgia Loans

SBA Participating Banks in Georgia