Firm Gets a North Carolina Bank Loan
North CarolinaSmall business loans are available to North Carolina small business owners through the SBA. In this case, a Tennessee bank provides the loan.
By giving the right information to Community So. Bank D.B.A Commun, this Hendersonville, North Carolina business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: CONCRETE CONTRACTORS
HENDERSONVILLE, NC 37902
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
625 S GAY ST, STE 450
KNOXVILLE, TN 37902
This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
235710 - Concrete Contractors
Loan Approval Date
6/16/2004
Loan Approval Gross Amount
$435,000
Loan Approval from the SBA
Of the total $435,000 loan amount, the SBA guaranteed $326,250.
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 11 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
This SBA loan was for $435,000. How would you spend $435,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
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SBA Banks in Knoxville, Tennessee
Where to Get an SBA Loan Tennessee