Business Loans for Construction Material Merchant Wholesalers
Looking for business loans for construction material merchant wholesalers? The SBA may be the answer. This $40,000 construction material merchant wholesalers loan was issued by a North Carolina bank.
This small business knew how to go about getting a business bank loan. Based in Denver, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Branch Bank & Trust, based in Winston Salem, North Carolina.
SBA Loan Borrower
COMPANY TYPE: CONSTRUCTION MATERIAL MERCHANT WHOLESALERS
DENVER, NC 28037
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
423390 - Construction Material Merchant Wholesalers
Loan Approval Date
2/1/2007
Loan Approval Gross Amount
$40,000
Loan Approval from the SBA
Of the total $40,000 loan amount, the SBA guaranteed $20,000.
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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 1 existing job.
Great, But How Can I Get an SBA Loan for My Business?
Although it's called an SBA loan, you 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.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Branch Bank & Trust and they will explain how you can get an SBA loan for your company.
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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