SBA Loan from Southern Commun Bank & Tr Helps Garment Pressing And Cleaners Agents For Laundries Company

An SBA loan from Southern Commun Bank & Tr typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lewisville, North Carolina business owner got a $150,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Lewisville, North Carolina, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was Southern Commun Bank & Tr, based in Winston Salem, North Carolina.

SBA Loan Borrower

COMPANY TYPE: GARMENT PRESSING AND CLEANERS AGENTS FOR LAUNDRIES
LEWISVILLE, NC 27023

SBA Loan Lender

SOUTHERN COMMUN BANK & TR
4701 COUNTRY CLUB RD
WINSTON SALEM, NC 27104

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7212 - Garment Pressing and Cleaners Agents for Laundries

NAICS Code

812320 - Drycleaning and Laundry Services

Loan Approval Date

1/5/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Southern Commun Bank & Tr are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

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