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November 21, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Mount Airy, Business Loans > Surrey Bank & Trust Mount Airy Business Loans > Wood Product Manufacturing Loan | ||||
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Mount Airy SBA Lenders
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Mount Airy, North Carolina Bank Gives SBA Loan to Wood Product Manufacturing CompanyThinking about meeting with a Mount Airy, North Carolina bank about a small business loan? Here's one Virginia business loan, issued by a Mount Airy bank, that was approved by the SBA. Applying for an SBA loan with Surrey Bank & Trust worked out well for our friends at one local business in Danville, Virginia. They received an SBA loan for $25,000. Sweet! SBA Loan Borrower COMPANY TYPE: WOOD PRODUCT MANUFACTURING SBA Loan Lender SURREY BANK & TRUST This lender issued this bank loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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 321999 - Wood Product Manufacturing Loan Approval Date 9/24/2007 Loan Approval Gross Amount $25,000 Loan Approval from the SBA Of the total $25,000 loan amount, the SBA guaranteed $21,250. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Surrey Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: How Much Venture Capital Is There? SBA 7A Lenders in Mount Airy, North Carolina
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