Entrepreneur Works With Gastonia, North Carolina Bank to Get an SBA Loan

Find Gastonia, North Carolina banks that specialize in business loans and know how to work with entrepreneurs. Communityone Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Gastonia, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Communityone Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMPUTER AND SOFTWARE STORES
GASTONIA, NC 28034

SBA Loan Lender

COMMUNITYONE BANK
804 S NEW HOPE RD
GASTONIA, NC 28054

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

443120 - Computer and Software Stores

Loan Approval Date

6/3/2004

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the company promised to use the money 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.

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 Communityone Bank 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.

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