SBA Loan from Branch Bank & Trust Helps Animal Food Manufacturing Company
Branch Bank & Trust is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Carolina entrepreneur who tapped into the power of SBA loans.
This growing company knew how to go about getting a business bank loan. Based in Andrews, North Carolina, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Branch Bank & Trust, based in Winston Salem, North Carolina.
SBA Loan Borrower
COMPANY TYPE: ANIMAL FOOD MANUFACTURING
ANDREWS, NC 28901
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
The lender provided this SBA business loan 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
311119 - Animal Food Manufacturing
Loan Approval Date
9/26/2007
Loan Approval Gross Amount
$350,000
Loan Approval from the SBA
Of the total $350,000 loan amount, the SBA guaranteed $175,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 22 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 22 existing jobs.
Next Steps for Getting an SBA Loan
If you are working on finding money to start a business in Andrews NC, you ought to talk with a local Andrews SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Andrews businesses.
This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
Role of Business Plan When Raising Money
Who Lends Money to Small Businesses in Winston Salem, North Carolina
SBA North Carolina Banks