Pilot Mountain, North Carolina Lender Lends Money to Knit Fabric And Lace Mills Company

Get to know Pilot Mountain, North Carolina banks that specialize in SBA loans and know how to work with entrepreneurs. Southern Commun Bank & Tr is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Dobson, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Southern Commun Bank & Tr. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: KNIT FABRIC AND LACE MILLS
DOBSON, NC 27017

SBA Loan Lender

SOUTHERN COMMUN BANK & TR
616 S KEY ST
PILOT MOUNTAIN, NC 27041

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

313249 - Knit Fabric and Lace Mills

Loan Approval Date

6/11/2002

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $540,000.

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 30 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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