First-Citizens Bank & Trust Gives SBA Loan to Barber Shops Company

Looking to get a North Carolina small business loan? This North Carolina entrepreneur got a small business loan, provided by a North Carolina bank that works with the SBA to help small business owners.

Getting a small business loan in Charlotte, North Carolina was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First-Citizens Bank & Trust. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: BARBER SHOPS
CHARLOTTE, NC 28203

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
4300 SIX FORKS RD
RALEIGH, NC 27609

This lender processed this bank 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

812111 - Barber Shops

Loan Approval Date

4/26/2005

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $112,500.

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 20 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

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.

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 First-Citizens 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.

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