Charlotte, North Carolina Entrepreneur Gets a Business Loan

North CarolinaBusiness loans are available to North Carolina business owners through the SBA. In this case, a North Carolina bank provides the loan.

Getting a small business loan in Charlotte, North Carolina was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Community Bank Of Rowan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
CHARLOTTE, NC 28269

SBA Loan Lender

COMMUNITY BANK OF ROWAN
313 E CENTERVIEW ST
CHINA GROVE, NC 28023

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

2/22/2006

Loan Approval Gross Amount

$1,662,700

Loan Approval from the SBA

Of the total $1,662,700 loan amount, the SBA guaranteed $1,247,025.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 1 existing job.

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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