Surrey Bank & Trust Gives Bank Loan to Manufacturing Company

North CarolinaSBA loans are available to North Carolina entrepreneurs through the SBA. In this case, a North Carolina bank provides the loan.

You can learn something about getting a small business loan in Elkin, North Carolina by studying this loan to a local business, made back in 2006. Banks like Surrey Bank & Trust may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING
ELKIN, NC 28621

SBA Loan Lender

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

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

339999 - Manufacturing

Loan Approval Date

11/17/2006

Loan Approval Gross Amount

$309,000

Loan Approval from the SBA

Of the total $309,000 loan amount, the SBA guaranteed $231,750.

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 14 employees. The SBA loan documents indicated that the loan would help generate 18 new jobs and retain 24 existing jobs.

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

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Surrey Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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