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December 20, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Raleigh, Business Loans > Coastal Fcu Raleigh Business Loans > Mag's Duke LLC Luis & Kristen Loan | ||||
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Raising Money in Cary, North Carolina With SBA Loans
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Cary, NC Entrepreneur Gets SBA Loan to Buy Kilwin's Chocolates FranchiseBorrowing money to buy a Kilwin's Chocolates franchise? Coastal Fcu has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Cary, North Carolina needed money to invest in a Kilwin's Chocolates franchise back in 2006. Coastal Fcu issued an SBA franchise loan. Here are the details on this North Carolina small business loan. SBA Loan Borrower MAG'S DUKE LLC LUIS & KRISTEN SBA Loan Lender COASTAL FCU This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 10/25/2006 Loan Approval Gross Amount $90,000 Loan Approval from the SBA Of the total $90,000 loan amount, the SBA guaranteed $45,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Kilwin's Chocolates franchise. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Coastal Fcu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Kilwin's Chocolates and Ice Cream Franchise, Inc. How Much Venture Capital Is There? Small Bank Loans in Raleigh, North Carolina Browse All Business Loan Sources for North Carolina
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