North Carolina Small Business Loan Issued to Trucking Company

North CarolinaBusiness loans are available to North Carolina business owners through the SBA. In this case, a North Carolina bank provides the loan.

This small business, based in Eden, North Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Newbridge Bank. We've got the inside scoop on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
EDEN, NC 27288

SBA Loan Lender

NEWBRIDGE BANK
801 S VAN BUREN RD
EDEN, NC 27288

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves 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

4213 - Trucking

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

10/31/2001

Loan Approval Gross Amount

$39,100

Loan Approval from the SBA

Of the total $39,100 loan amount, the SBA guaranteed $33,235.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Debt Financing

Good Banks for Small Business in Eden, North Carolina

SBA Participating Banks in North Carolina