Winston Salem, North Carolina Lender Lends Money to Veterinary Services Company

Thinking about meeting with a Winston Salem, North Carolina bank about an SBA loan? Here's one Iowa 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 Cedar Rapids, Iowa. The business was able to get an SBA loan for $825,000. Great job!

SBA Loan Borrower

COMPANY TYPE: VETERINARY SERVICES
CEDAR RAPIDS, IA 52402

SBA Loan Lender

BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541940 - Veterinary Services

Loan Approval Date

5/25/2001

Loan Approval Gross Amount

$825,000

Loan Approval from the SBA

Of the total $825,000 loan amount, the SBA guaranteed $618,750.

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 10 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

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

If you are raising money in Cedar Rapids IA, you ought to talk with a local Cedar Rapids SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cedar Rapids businesses.

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 Branch Bank & Trust 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:

Obtaining Funding - Friends and Family

Small Bank Loans in Winston Salem, North Carolina

North Carolina SBA 7A Lenders