SBA Loan from Resource Bank Helps Sporting Goods Stores Company

Resource Bank has a track record as a leading provider of SBA loans. Find out how this North Carolina entrepreneur received an SBA loan from them.

Getting a small business loan in Elizabeth City, North Carolina was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Resource Bank, operating out of Virginia Beach, Virginia. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: SPORTING GOODS STORES
ELIZABETH CITY, NC 27906

SBA Loan Lender

RESOURCE BANK
4429 BONNEY RD, STE 300
VIRGINIA BEACH, VA 23462

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451110 - Sporting Goods Stores

Loan Approval Date

11/15/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 2 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.

Related Links:

The Art of Bootstrapping

Small Bank Loans in Virginia Beach, Virginia

Getting a Business Loan in Virginia