Business Loan from Surrey Bank & Trust Given to Abrasive Products Company

An SBA loan from Surrey Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Dobson, North Carolina business owner got a $60,800 loan.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Surrey Bank & Trust, out of Mount Airy, North Carolina. The loan was granted and they received $60,800 to help grow their Dobson, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: ABRASIVE PRODUCTS
DOBSON, NC 27017

SBA Loan Lender

SURREY BANK & TRUST
145 N RENFRO ST
MOUNT AIRY, NC 27030

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3291 - Abrasive Products

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

1/30/2001

Loan Approval Gross Amount

$60,800

Loan Approval from the SBA

Of the total $60,800 loan amount, the SBA guaranteed $51,680.

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 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Dobson NC, you ought to talk with a local Dobson SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Dobson businesses.

This SBA loan was for $60,800. How would you spend $60,800 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

How Equity Dilution Works

Small Business Banks in Mount Airy, North Carolina

North Carolina SBA Bank Lenders