Winston Salem, North Carolina Bank Lends Money to Child Day Care Services Company in Winston-Salem, North Carolina

Get to know Winston Salem, North Carolina banks that specialize in SBA loans and know how to work with entrepreneurs. Southern Commun Bank & Tr is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Winston-Salem, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Southern Commun Bank & Tr. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
WINSTON-SALEM, NC 27103

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8351 - Child Day Care Services

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

11/14/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $120,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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