Atlanta Business Loans
We will help you get the financing you need directly through a local Atlanta-based community bank. Our banking association has member banks in Atlanta and across the Georgia - ready to help!
Atlanta Business Loan Options:
- Commercial Real Estate
- Asset-Based Lending
- SBA Loans
- Healthcare Practice Loans
- Equipment Loans & Leases
- Lines of Credit
- Business Acquisition Financing
- Working Capital
Many Atlanta businesses rely on borrowed capital to fuel growth and other initiatives. Depending upon the nature of the business need, a business’ credit profile, time in business, whether or not the business has adequate collateral, and other factors, there are more options available today than ever before.
Atlanta Business Loans
We are a nonprofit lending association made up of Atlanta-based community banks and Credit Unions. We connect entrepreneurs with local Atlanta capital partners and funding sources. Atlanta Business Loans...Best part - It's free!
What does the Georgia Small Business Loan Association offer?
We offer access to confidential, no-cost, one-on-one professional business guidance for Atlanta small to mid-size business owners who want to grow their business. We prepare you to be a "bankable" customer through one of our co-op partners or through the bank of your choice. Our consultants have earned advanced degrees in business or have executive banking experience to help both emerging and growing businesses design strategies to make better business decisions and reach their goals.
- Identification of appropriate funding sources
- Financial materials preparation
- Loan pricing guidance and rate analysis
- SBA evaluation
- Loan structure assessment
- Capital formation assistance
- Loan presentation development
- Identifying the appropriate banking partners
- Loan vs. Lease support
- Loans up to $5,000,000
Obtaining a Loan Through an Atlanta Community Bank
These institutions tend to be less formulaic in assessing loan applications and are more willing to consider individual factors in their decision-making.
You should consider establishing an ongoing working relationship with a specific bank even before setting up shop, or as soon as possible thereafter, to help with your loan application.
Establishing a small line of credit with a bank, even if your business does not immediately need funds, is often a good way of getting to know your banker. The more knowledgeable and familiar the lender is with the borrower, the more likely the lender is to understand and accommodate the individual needs of the small business. And if you apply for a line of credit and then don't need to use it, you'll build up a very favorable impression of your business.
Advice on credit issues, as well as general business expertise, have always been offered as a service by some banks. But with the increased competition among banks, many more institutions are promoting and packaging their loan offerings with these additional "smart money" services.
Most small businesses can benefit from the experience of an experienced banker or lender, and your choice of a lending institution and a specific person within the institution should take this potential benefit into consideration.
Business loan approval rates:
2017 - 64.1%
According to Forbes, 2017, approval rates for lenders in every category rose – a rare feat. Approval rates for big banks – institutions with more than $10 billion in assets – approved 25.1 percent of applications and institutional lenders granted 64.1 percent of requests. Both figures represent new high marks for the study. Secondly, regulation of the banking industry is subsiding under the current administration. Banks both large and small are more likely to lend under the current atmosphere. the Small Business Administration (SBA) changed its equity requirements for Commercial Real Estate loans. Borrowers are now required to put less money upfront in the form of equity investment when they apply for commercial real estate funding. This encourages expansion by business owners and lending by banks.
How do I qualify for a business loan?
- Make sure your personal credit score is above 650. Ideally, you want to it to be above 700. If your score is north of 750 banks will consider you to be a low risk and chances of approval are much greater.
- Know the lenders qualification requirements - Have a conversation with a lender or multiple lenders to see which one will be a the best fit for your business. Be open and bring up both positives and negative aspects of your credit history and company profile.
- Gather financial and legal documents - The lender should provide you with a list of required documents. Provide 100% of what they ask for. If you don't or can't provide something your probability of getting approved will plummet.
- Develop a strong business profile - know how to articulate the history of your business and where you looking to take the business. More importantly, be able to explain why are seeking a loan and how it will benefit your operations.
- Provide collateral - Real estate, equipment, invoices, lien on business. It is rare that banks do unsecured lending, so be prepared to offer collateral to help support your request.
Finding Atlanta Community Banker Lenders
The Small Business Administration publishes a state-by-state directory of small business lending reported by commercial banks.
Although this directory of Certified and Preferred Lenders should not be your exclusive source for selecting the bank that's best for you, the compilation can help identify banks in your area that are lending large amounts to small businesses and that have experience with small business needs.
Businesses Thrive In Atlanta
Georgia is the place for small business. Did you know that there are over 700,000 registered businesses in Georgia.
- There are 718,987 registered establishments in Georgia (SOS: 1/3/18)
- According to the GA Dept. of Labor, 278,125 business establishments represented GA employment in the 2Q of 2017; of those:
- 99.8% are categorized as small (fewer than 500 employees)
- 97.4% employed fewer than 100
- 94.1% employed fewer than 50
- 75.8% employed fewer than 10
- Atlanta ranks among America’s “Tech 25” – 25 American regions deemed the best in tech (Cushman & Wakefield 10/17)
- Atlanta ranks #6 in US as top city for innovation (Innovation Leader 5/17)
- Atlanta ranks #2 for Next Top Tech Towns (big tech hubs that are still affordable) (com 3/17)
- Three Georgia cities rank amongst the most educated places in the US: Atlanta (24), Cumming (41) and Marietta (42) (com, 2/17)
- Decatur ranks #11 for Best Cities for Entrepreneurs (com, 9/16)
- Sandy Springs wins Yelp’s first ever Bizzie Award celebrating the most customer-friendly small businesses and communities in America (Yelp Inc, 8/16)
- Atlanta ranks #1 for most mobile-friendly city in US (NerdWallet, 7/16)
- Atlanta’s women-owned businesses grew 3rd fastest in US from 2007 to 2012 (Center for an Urban Future, 3/16)
Georgian entrepreneurs, like many others throughout the United States, said it can be very difficult to obtain loans and other forms of financing in their state. New startups have an especially difficult time without significant collateral, and finding funding for existing small businesses looking to expand is not guaranteed.
My Small Business
Georgia defines a small business as one which is independently owned and operated and must have either fewer than 300 employees or less than $30 million in gross receipts per year.
Business Resource Center
Find the right financing partner for your business capital needs.