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

Want to talk with a Winston Salem, North Carolina bank about an SBA loan? Here's one Georgia business loan, issued by a Winston Salem bank, that was approved by the SBA.

Applying for an SBA loan with Branch Bank & Trust worked out well for our friends at one local firm in Athens, Georgia. They got an SBA loan for $197,500. Way to go!

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
ATHENS, GA 30605

SBA Loan Lender

BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

445299 - Specialty Food Stores

Loan Approval Date

1/23/2008

Loan Approval Gross Amount

$197,500

Loan Approval from the SBA

Of the total $197,500 loan amount, the SBA guaranteed $98,750.

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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 Branch Bank & Trust 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.

Related Links:

Business Line of Credit

Who Lends Money to Small Businesses in Winston Salem, North Carolina

Getting an SBA Loan in North Carolina