Textron Business Credit, Inc. SBA Loan to Motor Vehicle Parts And Accessories Company

Looking to get a North Carolina small business loan? Here's one North Carolina business loan that was approved by the SBA.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Textron Business Credit, Inc., out of Providence, Rhode Island. The loan was granted and they received $1,400,000 to help grow their Kannapolis, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE PARTS AND ACCESSORIES
KANNAPOLIS, NC 28081

SBA Loan Lender

TEXTRON BUSINESS CREDIT, INC.
40 WESTMINISTER ST
PROVIDENCE, RI 02903

This lender issued this SBA business 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.

SIC Code

3714 - Motor Vehicle Parts and Accessories

Loan Approval Date

2/23/2000

Loan Approval Gross Amount

$1,400,000

Loan Approval from the SBA

Of the total $1,400,000 loan amount, the SBA guaranteed $749,980.

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 13 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

SBIR Funding

SBA Participating Banks in Providence, Rhode Island

SBA Rhode Island Banks