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November 21, 2024 |
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| Home > Small Business Lenders by State > West Virginia Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Professional Equipment And Supplies Loan | ||||
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North Carolina Bank SBA Loans
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Branch Bank & Trust SBA Loan to Professional Equipment And Supplies CompanyLooking to get a West Virginia small business loan? Here's one West Virginia business loan that was approved by the SBA. This growing firm needed an SBA business loan in Charleston, West Virginia back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from Branch Bank & Trust, operating out of Winston Salem, North Carolina. Here are the details on this West Virginia small business loan. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES SBA Loan Lender BRANCH BANK & TRUST This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring 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 5049 - Professional Equipment and Supplies Loan Approval Date 4/21/2000 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. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Branch Bank & Trust and they will explain how you can get an SBA loan for your company. 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 Where to Get an SBA Loan in Winston Salem, North Carolina
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