Pittsboro, North Carolina Business Gets SBA-Guaranteed Funding from Suntrust Bank

An SBA loan from Suntrust Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pittsboro, North Carolina business owner got a $140,000 loan.

Getting a small business loan in Pittsboro, North Carolina was an essential business goal for this firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank, operating out of Raleigh, North Carolina. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: NEW CAR DEALERS
PITTSBORO, NC 27312

SBA Loan Lender

SUNTRUST BANK
3620 SIX FORKS RD
RALEIGH, NC 27609

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441110 - New Car Dealers

Loan Approval Date

10/27/2004

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Suntrust Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Suntrust Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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