Business Loan from Self-Help Cu Given to Mental Health Practitioners Company

Self-Help Cu and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Carolina entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Durham, North Carolina was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Self-Help Cu, operating out of Durham, North Carolina. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: MENTAL HEALTH PRACTITIONERS
DURHAM, NC 27704

SBA Loan Lender

SELF-HELP CU
301 W MAIN ST
DURHAM, NC 27701

This lender issued this particular commercial 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.

NAICS Code

621330 - Mental Health Practitioners

Loan Approval Date

10/27/2003

Loan Approval Gross Amount

$44,600

Loan Approval from the SBA

Of the total $44,600 loan amount, the SBA guaranteed $37,910.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

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.

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