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May 12, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Pinehurst, Business Loans > Branch Bank & Trust Pinehurst Business Loans > Child Day Care Services Loan | ||||
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Branch Bank & Trust
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Aberdeen, North Carolina Business Gets SBA-Guaranteed Funding from Branch Bank & TrustBranch Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Carolina entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Aberdeen, North Carolina, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Branch Bank & Trust, based in Pinehurst, North Carolina. SBA Loan Borrower COMPANY TYPE: CHILD DAY CARE SERVICES SBA Loan Lender BRANCH BANK & TRUST This lender issued this particular commercial 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. SIC Code 8351 - Child Day Care Services NAICS Code 624410 - Child Day Care Services Loan Approval Date 1/24/2000 Loan Approval Gross Amount $71,000 Loan Approval from the SBA Of the total $71,000 loan amount, the SBA guaranteed $56,800. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: SBA 7A Lenders in Pinehurst, North Carolina SBA Participating Banks in North Carolina
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