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May 1, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Charlotte, Business Loans > Bank Of Granite Charlotte Business Loans > Eating Places Loan | ||||
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Get a Small Business Loan in Charlotte, North Carolina
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Charlotte, North Carolina Entrepreneur Gets a Bank LoanNorth CarolinaSmall business loans are available to North Carolina small business owners through the SBA. In this case, a North Carolina bank provides the loan. Getting a small business loan in Charlotte, North Carolina was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Granite. Here are the details on this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BANK OF GRANITE This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . 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. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/15/2003 Loan Approval Gross Amount $31,500 Loan Approval from the SBA Of the total $31,500 loan amount, the SBA guaranteed $26,775. 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 14 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bank Of Granite and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: A Company That Helps Entrepreneurs Best Banks in Charlotte, North Carolina Where to Get an SBA Loan North Carolina
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