Morehead City, North Carolina Bank Gives SBA Loan to Pharmacies And Drug Stores Company

Find Morehead City, North Carolina banks that specialize in small business loans and know how to work with entrepreneurs. Sound Banking Company is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: PHARMACIES AND DRUG STORES
CAPE CARTERET, NC 28584

SBA Loan Lender

SOUND BANKING COMPANY
5039 EXECUTIVE DR
MOREHEAD CITY, NC 28557

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446110 - Pharmacies and Drug Stores

Loan Approval Date

8/21/2003

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 7 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Sound Banking Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Sound Banking Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Getting a Small Business Loan

Who Lends Money to Small Businesses in Morehead City, North Carolina

North Carolina SBA Bank Lenders