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November 15, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Graham, Business Loans > Communityone Bank Graham Business Loans > Liquor Stores Loan | ||||
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Communityone Bank
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Business Loan from Communityone Bank Given to Liquor Stores CompanyCommunityone Bank has a track record as a leading provider of SBA loans. Find out how this North Carolina entrepreneur received an SBA loan from them. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Communityone Bank, out of Graham, North Carolina. The loan was granted and they received $100,000 to help grow their Burlington, North Carolina business. SBA Loan Borrower COMPANY TYPE: LIQUOR STORES SBA Loan Lender COMMUNITYONE BANK This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5921 - Liquor Stores NAICS Code 445310 - Beer, Wine, and Liquor Stores Loan Approval Date 4/3/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your 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. While you may be able to find business people willing to loan money, 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: SBA 7A Lenders in Graham, North Carolina Getting a Business Loan in North Carolina
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