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May 14, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Newton, Business Loans > Peoples Bank Newton Business Loans > Upholstered Household Furniture Manufacturing Loan | ||||
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How to Get a Commercial Loan from Peoples Bank
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Conover, North Carolina Business Gets SBA-Guaranteed Funding from Peoples BankPeoples 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. This small firm knew how to go about getting a business bank loan. Based in Conover, North Carolina, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Peoples Bank, based in Newton, North Carolina. SBA Loan Borrower COMPANY TYPE: UPHOLSTERED HOUSEHOLD FURNITURE MANUFACTURING SBA Loan Lender PEOPLES BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 337121 - Upholstered Household Furniture Manufacturing Loan Approval Date 4/29/2004 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 61 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. We can help you find the best banks for small businesses in Conover or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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 Newton, North Carolina
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