Piedmont Cu SBA Loan to Variety Stores Company

An SBA loan from Piedmont Cu typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Cornelius, North Carolina business owner got a $136,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cornelius, North Carolina was able to borrow $136,000 from Piedmont Cu. The SBA made the loan possible by guaranteeing $115,600 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
CORNELIUS, NC 28031

SBA Loan Lender

PIEDMONT CU
207 S MEETING ST
STATESVILLE, NC 28677

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

7/21/2003

Loan Approval Gross Amount

$136,000

Loan Approval from the SBA

Of the total $136,000 loan amount, the SBA guaranteed $115,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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