Carter Bank & Trust SBA Loan to Air And Gas Compressor Manufacturing Company

An SBA loan from Carter Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lake Wylie, South Carolina business owner got a $500,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Lake Wylie, South Carolina, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Carter Bank & Trust, based in Shelby, North Carolina.

SBA Loan Borrower

COMPANY TYPE: AIR AND GAS COMPRESSOR MANUFACTURING
LAKE WYLIE, SC 29710

SBA Loan Lender

CARTER BANK & TRUST
2009 E DIXON BLVD
SHELBY, NC 28152

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333912 - Air and Gas Compressor Manufacturing

Loan Approval Date

2/21/2003

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

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 3 employees. The loan application did not indicate that the business planned to use the money to hire new employees 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Carter Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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