Vantagesouth Bank Gives Business Loan to Radio, Television, And Electronics Stores Company

Looking to get a North Carolina SBA loan? This North Carolina entrepreneur got an SBA loan, provided by a North Carolina bank that works with the SBA to help small business owners.

This company, based in Burlington, North Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Vantagesouth Bank. We've got the inside scoop on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: RADIO, TELEVISION, AND ELECTRONICS STORES
BURLINGTON, NC 27215

SBA Loan Lender

VANTAGESOUTH BANK
3725 S CHURCH ST
BURLINGTON, NC 27215

The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

12/7/2007

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $67,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 5 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Vantagesouth 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.

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