Growing Company Gets a North Carolina Business Loan

Bank loans in North Carolina are are few and far betweeen these days. We take a look at one North Carolina bank loan, provided by a District of Columbia bank, that was approved by the SBA.

You can learn something about getting a small business loan in Swannanoa, North Carolina by studying this loan to a local company, made back in 2004. Banks like Natl Consumer Cooperative may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: HARDWARE STORES
SWANNANOA, NC 28711

SBA Loan Lender

NATL CONSUMER COOPERATIVE
601 PENNSYLVANIA AVE, NW, STE
WASHINGTON, DC 20044

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444130 - Hardware Stores

Loan Approval Date

7/29/2004

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Natl Consumer Cooperative had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Natl Consumer Cooperative 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.

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