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May 14, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Granite Falls, Business Loans > Bank Of Granite Granite Falls Business Loans > Electronic Parts And Equipment Merchant Wholesalers Loan | ||||
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How to Get SBA Loans in Conover, North Carolina
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Electronic Parts and Equipment Merchant Wholesalers Bank LoansLooking for bank loans for electronic parts and equipment merchant wholesalers? Talk to a banker who works with the SBA. This $25,000 electronic parts and equipment merchant wholesalers loan was issued by a North Carolina bank. Getting a small business loan in Conover, North Carolina was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Granite, operating out of Granite Falls, North Carolina. Here are the details on this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender BANK OF GRANITE The lender provided this 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 423690 - Electronic Parts and Equipment Merchant Wholesalers Loan Approval Date 4/12/2005 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $12,500. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help create 1 new job. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Role of Business Plan When Raising Money SBA 7A Banks for Granite Falls, North Carolina Loans SBA Participating Banks in North Carolina
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