North Carolina Business Loan Issued to Specialty Food Stores Company

North CarolinaBank loans are available to North Carolina firms through the SBA. In this case, a North Carolina bank provides the loan.

This company, based in Cornelius, North Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Bank Of Granite. We've got the inside scoop on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
CORNELIUS, NC 28031

SBA Loan Lender

BANK OF GRANITE
23 N MAIN ST
GRANITE FALLS, NC 28630

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

445299 - Specialty Food Stores

Loan Approval Date

3/7/2006

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $60,000.

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 no employees. The SBA loan application for the borrower indicated that the funding would help generate 5 new jobs.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of Granite so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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