Gastonia, North Carolina Entrepreneur Gets a Business Loan

Bank loans in North Carolina are tough to come by these days. We take a look at one North Carolina bank loan, provided by a North Carolina bank, that was approved by the SBA.

You can learn something about getting a small business loan in Gastonia, North Carolina by studying this loan to a local company, made back in 2002. Banks like Communityone Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: RESILIENT FLOOR COVERING MANUFACTURING
GASTONIA, NC 28052

SBA Loan Lender

COMMUNITYONE BANK
804 S NEW HOPE RD
GASTONIA, NC 28054

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

326192 - Resilient Floor Covering Manufacturing

Loan Approval Date

4/3/2002

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Gastonia or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Startup Funding Tip

SBA 7A Banks for Gastonia, North Carolina Loans

Getting an SBA Loan in North Carolina