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April 28, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > San Diego, Business Loans > California Bank & Trust San Diego Business Loans > Drycleaning And Laundry Services Loan | ||||
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Who Lends Money to Atlanta Small Business Owners
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Local Business Gets a Georgia Business LoanBusiness loans in Georgia are are few and far betweeen these days. We take a look at one Georgia business loan, provided by a California bank, that was approved by the SBA. Getting a small business loan in Atlanta, Georgia was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from California Bank & Trust. Here are the details on this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: DRYCLEANING AND LAUNDRY SERVICES SBA Loan Lender CALIFORNIA BANK & TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 9/18/2006 Loan Approval Gross Amount $35,700 Loan Approval from the SBA Of the total $35,700 loan amount, the SBA guaranteed $17,850. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Family and Friend Investors - Your First Financiers SBA 7A Banks in San Diego, California SBA Participating Banks in California
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