Business Loan from Waccamaw Bank Given to Forest Nurseries And Gathering Of Forest Products Company

An SBA loan from Waccamaw Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Evergreen, North Carolina business owner got a $16,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Evergreen, North Carolina was able to borrow $16,000 from Waccamaw Bank. The SBA made the loan possible by guaranteeing $13,600 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: FOREST NURSERIES AND GATHERING OF FOREST PRODUCTS
EVERGREEN, NC 28438

SBA Loan Lender

WACCAMAW BANK
110 N JK POWELL BLVD
WHITEVILLE, NC 28472

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0831 - Forest Nurseries and Gathering of Forest Products

NAICS Code

113210 - Forest Nurseries and Gathering of Forest Products

Loan Approval Date

12/7/2001

Loan Approval Gross Amount

$16,000

Loan Approval from the SBA

Of the total $16,000 loan amount, the SBA guaranteed $13,600.

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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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