Entrepreneur Works With Raleigh, North Carolina Bank to Get an SBA Loan

Thinking about meeting with a Raleigh, North Carolina bank about a small business loan? Here's one North Carolina business loan, issued by a Raleigh bank, that was approved by the SBA.

Applying for an SBA loan with Capital Bank worked out well for our friends at one local company in Raleigh, North Carolina. They received an SBA loan for $50,000. Nice!

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
RALEIGH, NC 27616

SBA Loan Lender

CAPITAL BANK
333 FAYETTEVILLE ST, STE 102
RALEIGH, NC 27601

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

2/5/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 5 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 4 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Raleigh NC, you ought to talk with a local Raleigh SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Raleigh businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Capital Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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