Entrepreneur Works With Durham, North Carolina Bank to Get an SBA Loan

Get business loans from a Durham, North Carolina bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Cardinal State Bank is a Durham, North Carolina small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a North Carolina company.

SBA Loan Borrower

COMPANY TYPE: FABRICATED STRUCTURAL METAL MANUFACTURING
DURHAM, NC 27712

SBA Loan Lender

CARDINAL STATE BANK
5309 HIGHGATE DR
DURHAM, NC 27713

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332312 - Fabricated Structural Metal Manufacturing

Loan Approval Date

6/14/2005

Loan Approval Gross Amount

$688,000

Loan Approval from the SBA

Of the total $688,000 loan amount, the SBA guaranteed $516,000.

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 23 employees. The SBA loan documents did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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SBA Participating Banks in Durham, North Carolina

Find an SBA Lender in North Carolina