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May 17, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Dunn, Business Loans > New Century Bancorp, Inc. Dunn Business Loans > Floor Covering Stores Loan | ||||
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How to Get a Business Loan in Garner, North Carolina
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North Carolina SBA Loan Issued to Floor Covering Stores CompanyWould a North Carolina SBA loan help your business get to the next level? If so, you may want to talk with this North Carolina bank, which offers SBA loans to North Carolina entrepreneurs. By giving the right information to New Century Bancorp, Inc., this Garner, North Carolina business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender NEW CENTURY BANCORP, INC. The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442210 - Floor Covering Stores Loan Approval Date 9/23/2004 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 4 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $400,000. How would you spend $400,000 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: Advice on Getting a Small Business Loan Where to Get an SBA Loan in Dunn, North Carolina
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