Local Business Gets a North Carolina Small Business Loan

Business loans in North Carolina are hard to find these days. We take a look at one North Carolina business loan, provided by a Minnesota bank, that was approved by the SBA.

You can learn something about getting a small business loan in Concord, North Carolina by studying this loan to a local business, made back in 2007. Banks like Stearns Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CONCORD, NC 28027

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/26/2007

Loan Approval Gross Amount

$533,600

Loan Approval from the SBA

Of the total $533,600 loan amount, the SBA guaranteed $400,200.

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 20 employees. The loan application indicated that the loan would help generate 6 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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.

Related Links:

Bank Credit Lines

Banks in Saint Cloud, Minnesota

Minnesota SBA 7A Lenders