High Point, NC Entrepreneur Gets SBA Loan to Buy Fast-Fix Jewelry Repairs Franchise

Need money to purchase a Fast-Fix Jewelry Repairs franchise? First-Citizens Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in High Point, North Carolina needed money to invest in a Fast-Fix Jewelry Repairs franchise back in 2001. First-Citizens Bank & Trust issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

FAST FIX JEWELRY REPAIR
HIGH POINT, NC 27262

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
100 E TRYON RD
RALEIGH, NC 27603

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

5944 - Jewelry Stores

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

7/30/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fast-Fix Jewelry Repairs franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company promised 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?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First-Citizens Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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