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May 18, 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 > Commercial Photography Loan | ||||
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Get a Business Loan in Raleigh, North Carolina
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Self-Help Cu Gives Small Business Loan to Commercial Photography CompanyWould a North Carolina small business loan help your small business to grow and prosper? If so, you may want to talk with this North Carolina bank, which offers SBA loans to North Carolina entrepreneurs. Getting a small business loan in Raleigh, North Carolina was a top priority for this small company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Self-Help Cu. Here are the details on this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL PHOTOGRAPHY 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. SIC Code 7335 - Commercial Photography Loan Approval Date 7/11/2000 Loan Approval Gross Amount $49,000 Loan Approval from the SBA Of the total $49,000 loan amount, the SBA guaranteed $39,200. More Information on This SBA Loan The borrower borrowed this money for an existing 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 only one employee. The loan application did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Banks for Small Business in Durham, North Carolina
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