Business Loan from Self-Help Cu Given to Bread, Cake, And Related Bakery Products Company

An SBA loan from Self-Help Cu typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Huntersville, North Carolina business owner got a $60,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Huntersville, North Carolina was able to borrow $60,000 from Self-Help Cu. The SBA made the loan possible by guaranteeing $51,000 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS
HUNTERSVILLE, NC 28078

SBA Loan Lender

SELF-HELP CU
301 W MAIN ST
DURHAM, NC 27701

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2051 - Bread, Cake, and Related Bakery Products

NAICS Code

311812 - Commercial Bakeries

Loan Approval Date

3/7/2003

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 a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Huntersville NC, you ought to talk with a local Huntersville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Huntersville businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Self-Help Cu and they will explain how you can get an SBA loan for your company.

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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