Small Business Loans for Wood Product Manufacturing

With these small business loans for wood product manufacturing, the SBA guarantees the lender that the loan will be repaid. This wood product manufacturing loan for $1,000,000 was given to a North Carolina entrepreneur in 2005.

This company knew how to go about getting a business bank loan. Based in Hendersonville, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Carolina First Bank, based in Hendersonville, North Carolina.

SBA Loan Borrower

COMPANY TYPE: WOOD PRODUCT MANUFACTURING
HENDERSONVILLE, NC 28739

SBA Loan Lender

CAROLINA FIRST BANK
535 GREENVILLE HWY
HENDERSONVILLE, NC 28792

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

321999 - Wood Product Manufacturing

Loan Approval Date

12/5/2005

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 14 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Carolina First Bank and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding From a Venture Capitalist

SBA 7A Banks in Hendersonville, North Carolina

North Carolina SBA Banks