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April 20, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Durham, Business Loans > Self-Help Cu Durham Business Loans > Postal Connections Loan | ||||
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North Carolina Small Business Funding for Franchises
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Hillsborough, NC Entrepreneur Gets SBA Loan to Buy Postal Connections Of America FranchiseNeed a loan to purchase a Postal Connections Of America franchise? Self-Help Cu has a history of making these loans and they are guaranteed by the SBA. If you live near Hillsborough, North Carolina and are interested in buying a Postal Connections Of America franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Self-Help Cu. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower POSTAL CONNECTIONS SBA Loan Lender SELF-HELP CU 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. NAICS Code 561431 - Private Mail Centers Loan Approval Date 10/25/2004 Loan Approval Gross Amount $81,000 Loan Approval from the SBA Of the total $81,000 loan amount, the SBA guaranteed $68,850. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Postal Connections Of America franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Self-Help Cu had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Self-Help Cu made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Find an SBA Lender in Durham, North Carolina
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