How to Get a Loan for Landscaping Services
Looking for commercial loans for landscaping services? Try the SBA. This $110,000 landscaping services loan was issued by a North Carolina bank.
This small business knew how to go about getting a business bank loan. Based in Elon, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Randolph Bank & Trust Company, based in Asheboro, North Carolina.
SBA Loan Borrower
COMPANY TYPE: LANDSCAPING SERVICES
ELON, NC 27244
SBA Loan Lender
RANDOLPH BANK & TRUST COMPANY
175 N FAYETTEVILLE ST
ASHEBORO, NC 27203
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
561730 - Landscaping Services
Loan Approval Date
5/28/2004
Loan Approval Gross Amount
$110,000
Loan Approval from the SBA
Of the total $110,000 loan amount, the SBA guaranteed $93,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 26 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Randolph Bank & Trust Company 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:
Obtaining Funding - How to Decide How Much to Raise
Find an SBA Lender in Asheboro, North Carolina
SBA Lenders in North Carolina