Farm Supplies Wholesalers SBA Loans

Looking for SBA loans for farm supplies wholesalers? The SBA may be the answer. This $1,333,333 farm supplies wholesalers loan was issued by a North Carolina bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First South Bank, out of Washington, North Carolina. The loan was granted and they received $1,333,333 to help grow their Greenville, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES WHOLESALERS
GREENVILLE, NC 27834

SBA Loan Lender

FIRST SOUTH BANK
1311 CAROLINA AVE
WASHINGTON, NC 27889

This commercial 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

422910 - Farm Supplies Wholesalers

Loan Approval Date

2/8/2002

Loan Approval Gross Amount

$1,333,333

Loan Approval from the SBA

Of the total $1,333,333 loan amount, the SBA guaranteed $999,999.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 45 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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