Textile Product Mills Commercial Loans

With these commercial loans for textile product mills, the SBA guarantees the lender that the loan will be repaid. This textile product mills loan for $150,000 was given to a North Carolina entrepreneur in 2003.

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 2003. The lending bank was Peoples Bank, based in Newton, North Carolina.

SBA Loan Borrower

COMPANY TYPE: GENERAL INDUSTRIAL MACHINERY AND EQUIPMENT, N.E.C
DENVER, NC 28037

SBA Loan Lender

PEOPLES BANK
518 W ' C' ST
NEWTON, NC 28658

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3569 - General Industrial Machinery and Equipment, N.E.C

NAICS Code

314999 - Textile Product Mills

Loan Approval Date

4/11/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

If you have been wondering how do i get money to start a business in Denver NC, you ought to talk with a local Denver SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Denver businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Peoples Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Small Business Credit Cards

SBA 7A Banks for Newton, North Carolina Loans

Where to Get an SBA Loan North Carolina