Suntrust Bank Gives Business Loan to Amusement And Recreation Industries Company

Bank loans in North Carolina are tough to come by these days. We take a look at one North Carolina bank loan, provided by a Virginia bank, that was approved by the SBA.

Getting a small business loan in Burlington, North Carolina was a top priority for this loan applicant back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Suntrust Bank. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION INDUSTRIES
Burlington, NC 27215

SBA Loan Lender

SUNTRUST BANK
1001 SEMMES AVE, RVW 4323
RICHMOND, VA 23224

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

713990 - Amusement and Recreation Industries

Loan Approval Date

10/16/2007

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

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

Many small businesses receive loans backed by the U.S. Small Business Administration.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Suntrust Bank and they will explain how you can get an SBA loan for your company.

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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