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May 11, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Durham, Business Loans > Self-Help Cu Durham Business Loans > Retail Stores Loan | ||||
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Requirements for Business Owners On Getting a Loan
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Small Business Loans for Store RetailersLooking for small business loans for store retailers? Try the SBA. This $111,726 store retailers loan was issued by a North Carolina bank. This company knew how to go about getting a business bank loan. Based in Gastonia, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Self-Help Cu, based in Durham, North Carolina. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender SELF-HELP CU This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores NAICS Code 453998 - Store Retailers Loan Approval Date 12/12/2003 Loan Approval Gross Amount $111,726 Loan Approval from the SBA Of the total $111,726 loan amount, the SBA guaranteed $94,967. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned 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? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA Approved Banks in Durham, North Carolina
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