Bank Of Granite SBA Loan to Women's Clothing Stores Company

An SBA loan from Bank Of Granite typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Charlotte, North Carolina business owner got a $110,300 loan.

This business knew how to go about getting a business bank loan. Based in Charlotte, North Carolina, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Bank Of Granite, based in Granite Falls, North Carolina.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
CHARLOTTE, NC 28211

SBA Loan Lender

BANK OF GRANITE
23 N MAIN ST
GRANITE FALLS, NC 28630

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

448120 - Women's Clothing Stores

Loan Approval Date

12/6/2007

Loan Approval Gross Amount

$110,300

Loan Approval from the SBA

Of the total $110,300 loan amount, the SBA guaranteed $55,150.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your 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.

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 $110,300 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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