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May 15, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Four Oaks, Business Loans > Four Oaks Bank & Trust Company Four Oaks Business Loans > Motor Vehicle Supplies And New Parts Wholesalers Loan | ||||
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Four Oaks Bank & Trust Company SBA 7A Loans
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Motor Vehicle Supplies and New Parts Wholesalers Small Business LoansLooking for small business loans for motor vehicle supplies and new parts wholesalers? Try the SBA. This $150,000 motor vehicle supplies and new parts wholesalers loan was issued by a North Carolina bank. This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Four Oaks Bank & Trust Company, out of Four Oaks, North Carolina. The loan was granted and they received $150,000 to help grow their Four Oaks, North Carolina business. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS WHOLESALERS SBA Loan Lender FOUR OAKS BANK & TRUST COMPANY 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 is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421120 - Motor Vehicle Supplies and New Parts Wholesalers Loan Approval Date 3/26/2002 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 2 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you have been wondering how do i get money to start a business in Four Oaks NC, you ought to talk with a local Four Oaks SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Four Oaks businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Four Oaks Bank & Trust Company and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Accountant's Role in Securing Financing Good Banks for Small Business in Four Oaks, North Carolina
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