Durham, North Carolina Lender Lends Money to Masonry, Stone Setting, And Other Stone Work Company

Get to know Durham, North Carolina banks that specialize in business loans and know how to work with entrepreneurs. Self-Help Cu is one such bank, as evidenced by this SBA loan to a growing company.

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

SBA Loan Borrower

COMPANY TYPE: MASONRY, STONE SETTING, AND OTHER STONE WORK
CARY, NC 27513

SBA Loan Lender

SELF-HELP CU
301 W MAIN ST
DURHAM, NC 27701

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1741 - Masonry, Stone Setting, and Other Stone Work

NAICS Code

235410 - Masonry and Stone Contractors

Loan Approval Date

11/14/2000

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $72,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Obtaining Funding - How to Borrow Money

Who Lends Money to Small Businesses in Durham, North Carolina

Getting a Business Loan in North Carolina