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May 11, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Raleigh, Business Loans > First-Citizens Bank & Trust Raleigh Business Loans > Motorcycle Dealers Loan | ||||
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North Carolina SBA Banks
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Raleigh, North Carolina Bank Gives SBA Loan to Motorcycle Dealers CompanyGet to know Raleigh, North Carolina banks that specialize in business loans and know how to work with entrepreneurs. First-Citizens Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Kannapolis, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from First-Citizens Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: MOTORCYCLE DEALERS SBA Loan Lender FIRST-CITIZENS BANK & TRUST This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves 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. SIC Code 5571 - Motorcycle Dealers NAICS Code 441221 - Motorcycle, ATV, and Personal Watercraft Dealers Loan Approval Date 1/15/2002 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $97,750. 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 4 employees. This SBA loan request did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First-Citizens Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Good Banks for Small Business in Raleigh, North Carolina
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