Entrepreneur Works With Winston Salem, North Carolina Bank to Get an SBA Loan

Get business loans from a Winston Salem, North Carolina bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Southern Commun Bank & Tr is a Winston Salem, North Carolina small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a North Carolina company.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
WINSTON SALEM, NC 27103

SBA Loan Lender

SOUTHERN COMMUN BANK & TR
4701 COUNTRY CLUB RD
WINSTON SALEM, NC 27104

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/16/2008

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 50 employees. The loan application indicated that the loan would help retain 50 existing jobs.

Getting an SBA Loan For Your Business

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

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Alternative Financing

SBA 7A Banks for Winston Salem, North Carolina Loans

Getting an SBA Loan in North Carolina