North Carolina Business Loan Issued to General Automotive Repair Company

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

Getting a small business loan in Harnett, North Carolina was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Business Loan Center, LLC. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR
HARNETT, NC 28326

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1633 BROADWAY, 39TH FL
NEW YORK, NY 10019

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811111 - General Automotive Repair

Loan Approval Date

2/13/2006

Loan Approval Gross Amount

$1,667,500

Loan Approval from the SBA

Of the total $1,667,500 loan amount, the SBA guaranteed $1,250,625.

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 10 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Business Loan Center, LLC so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Raising VC Money for Social Networking Companies

Good Banks for Small Business in New York, New York

New York SBA 7A Lenders