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December 21, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Kernersville, Business Loans > Bank Of North Carolina Kernersville Business Loans > Membership Sports And Recreation Clubs Loan | ||||
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Bank Of North Carolina Commercial Loans
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How to Get a Loan for Amusement and Recreation IndustriesLooking for SBA loans for amusement and recreation industries? Try the SBA. This $120,000 amusement and recreation industries loan was issued by a North Carolina bank. Getting a small business loan in Kernersville, North Carolina was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of North Carolina, operating out of Kernersville, North Carolina. Here are the details on this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: MEMBERSHIP SPORTS AND RECREATION CLUBS SBA Loan Lender BANK OF NORTH CAROLINA This was a Low Documentation SBA loan. The SBA created this program to reduce 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. 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 7997 - Membership Sports and Recreation Clubs NAICS Code 713990 - Amusement and Recreation Industries Loan Approval Date 11/20/2000 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $90,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Best Kernersville, North Carolina Banks for Small Business
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