Toy and Hobby Goods and Supplies Wholesalers SBA Loans

With these SBA loans for toy and hobby goods and supplies wholesalers, the SBA guarantees the lender that the loan will be repaid. This toy and hobby goods and supplies wholesalers loan for $58,000 was given to a North Carolina entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Burlington, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Newbridge Bank, based in Kernersville, North Carolina.

SBA Loan Borrower

COMPANY TYPE: TOYS AND HOBBY GOODS AND SUPPLIES
BURLINGTON, NC 27244

SBA Loan Lender

NEWBRIDGE BANK
131 E MOUNTAIN ST
KERNERSVILLE, NC 27284

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5092 - Toys and Hobby Goods and Supplies

NAICS Code

421920 - Toy and Hobby Goods and Supplies Wholesalers

Loan Approval Date

12/2/2002

Loan Approval Gross Amount

$58,000

Loan Approval from the SBA

Of the total $58,000 loan amount, the SBA guaranteed $49,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business 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.

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 $58,000 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.

Related Links:

Determining Proper Capital Structure for a Business

SBA Participating Banks in Kernersville, North Carolina

North Carolina SBA 7A Lenders