Company Gets a North Carolina Small Business Loan
SBA loans in North Carolina are tough to come by these days. We take a look at one North Carolina SBA loan, provided by a North Carolina bank, that was approved by the SBA.
You can learn something about getting a small business loan in Asheville, North Carolina by studying this loan to a local business, made back in 2008. Banks like Branch Bank & Trust may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: PETROLEUM AND PETROLEUM PRODUCTS MERCHANT WHOLESALERS
ASHEVILLE, NC 28801
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
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
424720 - Petroleum and Petroleum Products Merchant Wholesalers
Loan Approval Date
1/30/2008
Loan Approval Gross Amount
$59,700
Loan Approval from the SBA
Of the total $59,700 loan amount, the SBA guaranteed $29,850.
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 9 employees. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 9 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans provide smart, affordable business financing for small businesses looking to expand.
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 $59,700 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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