General Merchandise Stores Loans

With these loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $45,000 was given to a North Carolina entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Garner, North Carolina was able to borrow $45,000 from Four Oaks Bank & Trust Company. The SBA made the loan possible by guaranteeing $36,000 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
GARNER, NC 27529

SBA Loan Lender

FOUR OAKS BANK & TRUST COMPANY
128 N 2ND ST
SMITHFIELD, NC 27577

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

8/28/2000

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $36,000.

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. The SBA loan documents did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Four Oaks Bank & Trust Company and they will explain how you can get an SBA loan for your company.

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:

Small Business Credit Cards

Small Bank Loans in Smithfield, North Carolina

Getting a Business Loan in North Carolina