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May 10, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Graham, Business Loans > Communityone Bank Graham Business Loans > General Contracting For Nonresidential Buildings Loan | ||||
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Get an SBA Loan from Communityone Bank
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Communityone Bank SBA Loan to General Contracting For Nonresidential Buildings CompanyCommunityone Bank 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. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Burlington, North Carolina was able to borrow $950,000 from Communityone Bank. The SBA made the loan possible by guaranteeing $712,500 of this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS SBA Loan Lender COMMUNITYONE BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1542 - General Contracting for Nonresidential Buildings NAICS Code 233220 - Multifamily Housing Construction Loan Approval Date 12/29/2000 Loan Approval Gross Amount $950,000 Loan Approval from the SBA Of the total $950,000 loan amount, the SBA guaranteed $712,500. 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 34 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Communityone Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Who Lends Money to Small Businesses in Graham, North Carolina Find an SBA Lender in North Carolina
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