Hickory, North Carolina Entrepreneur Gets an SBA Loan

Small business loans in North Carolina are tough to come by these days. We take a look at one North Carolina small business loan, provided by a North Carolina bank, that was approved by the SBA.

You can learn something about getting a small business loan in Hickory, North Carolina by studying this loan to a local company, made back in 2002. Banks like Bank Of Granite may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: EMPLOYMENT AGENCIES
HICKORY, NC 28601

SBA Loan Lender

BANK OF GRANITE
701 WILKESBORO BLVD
LENOIR, NC 28645

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

7361 - Employment Agencies

NAICS Code

561310 -

Loan Approval Date

6/4/2002

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $17,000.

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 60 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $20,000. How would you spend $20,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

VC Firms on Twitter

Banks in Lenoir, North Carolina

Getting an SBA Loan in North Carolina