SBA Loan from Branch Bank & Trust Helps Video Tape Rental Company

An SBA loan from Branch Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kernersville, North Carolina business owner got a $122,000 loan.

Getting a small business loan in Kernersville, North Carolina was an essential business goal for this small business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Branch Bank & Trust, operating out of Kernersville, North Carolina. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: VIDEO TAPE RENTAL
KERNERSVILLE, NC 27284

SBA Loan Lender

BRANCH BANK & TRUST
237 E MOUNTAIN ST
KERNERSVILLE, NC 27284

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7841 - Video Tape Rental

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

1/24/2001

Loan Approval Gross Amount

$122,000

Loan Approval from the SBA

Of the total $122,000 loan amount, the SBA guaranteed $103,700.

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

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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