Jacksonville, North Carolina Business Gets SBA-Guaranteed Funding from Branch Bank & Trust

Branch Bank & Trust has a track record as a leading provider of SBA loans. Find out how this North Carolina entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Jacksonville, North Carolina, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Branch Bank & Trust, based in Virginia Beach, Virginia.

SBA Loan Borrower

COMPANY TYPE: FAMILY CLOTHING STORES
JACKSONVILLE, NC 28546

SBA Loan Lender

BRANCH BANK & TRUST
5101 CLEVELAND ST, STE 100
VIRGINIA BEACH, VA 23462

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5651 - Family Clothing Stores

NAICS Code

448140 - Family Clothing Stores

Loan Approval Date

12/27/2001

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

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 12 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Jacksonville NC, you ought to talk with a local Jacksonville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jacksonville businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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