Services to Buildings and Dwellings SBA Loans

With these SBA loans for services to buildings and dwellings, the SBA guarantees the lender that the loan will be repaid. This services to buildings and dwellings loan for $45,000 was given to a North Carolina entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Durham, North Carolina was able to borrow $45,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $22,500 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: SERVICES TO BUILDINGS AND DWELLINGS
DURHAM, NC 27707

SBA Loan Lender

BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

561790 - Services to Buildings and Dwellings

Loan Approval Date

4/13/2004

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $22,500.

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 5 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Find Start-Up Capital

Good Banks for Small Business in Winston Salem, North Carolina

SBA North Carolina Banks