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

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

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

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
BURLINGTON, NC 27215

SBA Loan Lender

VANTAGESOUTH BANK
3725 S CHURCH ST
BURLINGTON, NC 27215

This lender processed this SBA 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

451110 - Sporting Goods Stores

Loan Approval Date

1/17/2008

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

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

If you are raising money in Burlington NC, you ought to talk with a local Burlington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Burlington businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Vantagesouth Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

How to Raise Money

Best Banks in Burlington, North Carolina

Getting a Business Loan in North Carolina