Growing Company Gets a North Carolina Small Business Loan

Bank loans in North Carolina are are few and far betweeen these days. We take a look at one North Carolina bank loan, provided by a North Carolina bank, that was approved by the SBA.

This business, based in Greenville, 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 Bank & Trust. We've got the inside scoop on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
GREENVILLE, NC 27858

SBA Loan Lender

SOUTHERN BANK & TRUST
100 N CENTER ST
MOUNT OLIVE, NC 28365

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

11/4/2003

Loan Approval Gross Amount

$15,500

Loan Approval from the SBA

Of the total $15,500 loan amount, the SBA guaranteed $7,750.

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 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $15,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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