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April 28, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Atlanta, Business Loans > Cornerstonebank Atlanta Business Loans > Wood Product Manufacturing Loan | ||||
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Cornerstonebank
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Business Loan from Cornerstonebank Given to Wood Product Manufacturing CompanyCornerstonebank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Georgia entrepreneur who tapped into the power of SBA loans. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Cornerstonebank, out of Atlanta, Georgia. The loan was granted and they received $75,000 to help grow their Atlanta, Georgia business. SBA Loan Borrower COMPANY TYPE: WOOD PRODUCT MANUFACTURING SBA Loan Lender CORNERSTONEBANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 321999 - Wood Product Manufacturing Loan Approval Date 5/4/2006 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 48 employees. The SBA loan documents indicated that the loan would help retain 48 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. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Cornerstonebank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: The Friends and Family Network Good Banks for Small Business in Atlanta, Georgia Getting an SBA Loan in Georgia
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