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May 14, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Morehead City, Business Loans > Sound Banking Company Morehead City Business Loans > Newspaper Publishers Loan | ||||
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Raising Money in Newport, North Carolina With SBA Loans
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Small Business Loans for Newspaper PublishersLooking for small business loans for newspaper publishers? Try the SBA. This $60,000 newspaper publishers loan was issued by a North Carolina bank. This company knew how to go about getting a business bank loan. Based in Newport, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Sound Banking Company, based in Morehead City, North Carolina. SBA Loan Borrower COMPANY TYPE: NEWSPAPER PUBLISHERS SBA Loan Lender SOUND BANKING COMPANY This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 511110 - Newspaper Publishers Loan Approval Date 12/14/2005 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $30,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 1 existing job. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Sound Banking Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Find an SBA Lender in Morehead City, North Carolina
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