Branch Bank & Trust SBA Loan to Retail Stores Company
Searching for a North Carolina business loan? Here's one North Carolina business loan that was approved by the SBA.
This up and coming company knew how to go about getting a business bank loan. Based in Greensboro, North Carolina, they applied for and were given an SBA-guaranteed loan in 2000. The lending bank was Branch Bank & Trust, based in Winston Salem, North Carolina.
SBA Loan Borrower
COMPANY TYPE: RETAIL STORES
GREENSBORO, NC 27407
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5999 - Retail Stores
Loan Approval Date
4/27/2000
Loan Approval Gross Amount
$144,000
Loan Approval from the SBA
Of the total $144,000 loan amount, the SBA guaranteed $108,000.
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 8 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Branch Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Branch Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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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