First-Citizens Bank & Trust SBA Loan to Physicians Company

An SBA loan from First-Citizens Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Arden, North Carolina business owner got a $175,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First-Citizens Bank & Trust, out of Raleigh, North Carolina. The loan was granted and they received $175,000 to help grow their Arden, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
ARDEN, NC 28704

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
4300 SIX FORKS RD
RALEIGH, NC 27609

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621111 - Physicians

Loan Approval Date

5/7/2003

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help create 5 new jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Obtaining Funding - Friends and Family

SBA Participating Banks in Raleigh, North Carolina

SBA Participating Banks in North Carolina