Morganton, North Carolina Lender Lends Money to Floor Laying And Other Floor Work Company

Want to talk with a Morganton, North Carolina bank about a business loan? Here's one North Carolina business loan, issued by a Morganton bank, that was approved by the SBA.

Applying for an SBA loan with First-Citizens Bank & Trust worked out well for our friends at one local business in Hickory, North Carolina. They got an SBA loan for $64,400. Sweet!

SBA Loan Borrower

COMPANY TYPE: FLOOR LAYING AND OTHER FLOOR WORK
HICKORY, NC 28602

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
217 N STERLING ST
MORGANTON, NC 28655

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1752 - Floor Laying and Other Floor Work

NAICS Code

235520 - Floor Laying and Floor Contractors

Loan Approval Date

1/28/2003

Loan Approval Gross Amount

$64,400

Loan Approval from the SBA

Of the total $64,400 loan amount, the SBA guaranteed $54,740.

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 9 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 $64,400 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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