Southern Commun Bank & Tr Gives Business Loan to Beauty Salons Company

North CarolinaBusiness loans are available to North Carolina business owners through the SBA. In this case, a North Carolina bank provides the loan.

This small business, based in Greensboro, North Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Southern Commun Bank & Tr. We've got the inside scoop on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: BEAUTY SALONS
GREENSBORO, NC 27401

SBA Loan Lender

SOUTHERN COMMUN BANK & TR
255 E INDEPENDENCE BLVD
MOUNT AIRY, NC 27030

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

12/8/2005

Loan Approval Gross Amount

$143,570

Loan Approval from the SBA

Of the total $143,570 loan amount, the SBA guaranteed $122,034.

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 SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Southern Commun Bank & Tr are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Cash Advances

SBA 7A Banks for Mount Airy, North Carolina Loans

North Carolina SBA 7A Banks