Borrowing Money for Materials Recovery Facilities

Looking for bank loans for materials recovery facilities? An SBA loan may be just what you've been looking for. This $97,000 materials recovery facilities loan was issued by a North Carolina bank.

Getting a small business loan in Raleigh, North Carolina was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Mechanics And Farmers Bank, operating out of Raleigh, North Carolina. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: MATERIALS RECOVERY FACILITIES
RALEIGH, NC 27617

SBA Loan Lender

MECHANICS AND FARMERS BANK
13 E HARGETT
RALEIGH, NC 27601

This lender issued this debt financing under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

562920 - Materials Recovery Facilities

Loan Approval Date

6/6/2006

Loan Approval Gross Amount

$97,000

Loan Approval from the SBA

Of the total $97,000 loan amount, the SBA guaranteed $82,450.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Accountant's Role in Securing Financing

SBA 7A Banks in Raleigh, North Carolina

Getting a Business Loan in North Carolina