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May 16, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Knoxville, Business Loans > Community So. Bank D.B.A Commun Knoxville Business Loans > Interior Design Services Loan | ||||
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Tips for Small Businesses On Getting a Loan
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Getting an SBA Loan for Interior Design ServicesWith these commercial loans for interior design services, the SBA guarantees the lender that the loan will be repaid. This interior design services loan for $150,000 was given to a North Carolina entrepreneur in 2004. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hendersonville, North Carolina was able to borrow $150,000 from Community So. Bank D.B.A Commun. The SBA made the loan possible by guaranteeing $127,500 of this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: INTERIOR DESIGN SERVICES SBA Loan Lender COMMUNITY SO. BANK D.B.A COMMUN This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541410 - Interior Design Services Loan Approval Date 6/18/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 small business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Microlending as a Small Business Funding Source Good Banks for Small Business in Knoxville, Tennessee
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