Business Loans for Toy and Hobby Goods and Supplies Wholesalers

With these business 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 $150,000 was given to a North Carolina entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Carrboro, North Carolina was able to borrow $150,000 from The Fidelity Bank. The SBA made the loan possible by guaranteeing $127,500 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: TOYS AND HOBBY GOODS AND SUPPLIES
CARRBORO, NC 27510

SBA Loan Lender

THE FIDELITY BANK
1296 S FIFTH ST
MEBANE, NC 27302

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

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

4/7/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 9 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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

Small Business Banks in Mebane, North Carolina

North Carolina SBA 7A Banks