Entrepreneur Works With Winston Salem, North Carolina Bank to Get an SBA Loan
Want to talk with a Winston Salem, North Carolina bank about a business loan? Here's one Georgia business loan, issued by a Winston Salem bank, that was approved by the SBA.
Applying for an SBA loan with Branch Bank & Trust worked out well for our friends at one local firm in Carrollton, Georgia. The business was able to get an SBA loan for $590,000. Nice!
SBA Loan Borrower
COMPANY TYPE: VETERINARY SERVICES
CARROLLTON, GA 30166
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541940 - Veterinary Services
Loan Approval Date
11/20/2003
Loan Approval Gross Amount
$590,000
Loan Approval from the SBA
Of the total $590,000 loan amount, the SBA guaranteed $442,500.
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 5 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 5 existing jobs.
Next Steps for Getting an SBA Loan
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Branch Bank & Trust 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:
A Company That Helps Entrepreneurs
Small Business Banks in Winston Salem, North Carolina
SBA Participating Banks in North Carolina