Bank Loans for Direct Selling Establishments

Looking for bank loans for direct selling establishments? An SBA loan may be just what you've been looking for. This $120,000 direct selling establishments loan was issued by a North Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clayton, North Carolina was able to borrow $120,000 from Crescent State Bank. The SBA made the loan possible by guaranteeing $102,000 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: DIRECT SELLING ESTABLISHMENTS
CLAYTON, NC 27520

SBA Loan Lender

CRESCENT STATE BANK
315 E MAIN ST
CLAYTON, NC 27520

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5963 - Direct Selling Establishments

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

5/16/2001

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Crescent State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Crescent State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Alternative Financing

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North Carolina SBA Bank Lenders