Coffee and Tea Manufacturing Loans

With these loans for coffee and tea manufacturing, the SBA guarantees the lender that the loan will be repaid. This coffee and tea manufacturing loan for $50,000 was given to a North Carolina entrepreneur in 2001.

Getting a small business loan in Boiling Springs, North Carolina was important for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from First National Bank Of Shelby, operating out of Boiling Springs, North Carolina. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: ROASTED COFFEE
BOILING SPRINGS, NC 28017

SBA Loan Lender

FIRST NATIONAL BANK OF SHELBY
208 N MAIN ST
BOILING SPRINGS, NC 28017

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2095 - Roasted Coffee

NAICS Code

311920 - Coffee and Tea Manufacturing

Loan Approval Date

9/21/2001

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First National Bank Of Shelby had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First National Bank Of Shelby made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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