SBA Loan from Surrey Bank & Trust Helps Gasket, Packing, And Sealing Device Manufacturing Company

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

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Elkin, North Carolina was able to borrow $300,000 from Surrey Bank & Trust. The SBA made the loan possible by guaranteeing $270,000 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: GASKET, PACKING, AND SEALING DEVICE MANUFACTURING
ELKIN, NC 28621

SBA Loan Lender

SURREY BANK & TRUST
145 N RENFRO ST
MOUNT AIRY, NC 27030

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339991 - Gasket, Packing, and Sealing Device Manufacturing

Loan Approval Date

7/13/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $270,000.

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 22 employees. This SBA loan request indicated that the loan would help generate 14 new jobs and retain 8 existing jobs.

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

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Surrey Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Surrey Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Friends and Family Network

Who Lends Money to Small Businesses in Mount Airy, North Carolina

North Carolina SBA 7A Banks