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

Get to know Asheville, North Carolina banks that specialize in small business loans and know how to work with entrepreneurs. Asheville Savings Bank, S.S.B. is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Brevard, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Asheville Savings Bank, S.S.B.. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
BREVARD, NC 28712

SBA Loan Lender

ASHEVILLE SAVINGS BANK, S.S.B.
11 CHURCH ST
ASHEVILLE, NC 28802

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

2/2/2004

Loan Approval Gross Amount

$41,000

Loan Approval from the SBA

Of the total $41,000 loan amount, the SBA guaranteed $34,850.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $41,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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