Thread Mills Commercial Loans
With these commercial loans for thread mills, the SBA guarantees the lender that the loan will be repaid. This thread mills loan for $800,000 was given to a North Carolina entrepreneur in 2001.
This business knew how to go about getting a business bank loan. Based in Lincolnton, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Branch Bank & Trust, based in Winston Salem, North Carolina.
SBA Loan Borrower
COMPANY TYPE: THREAD MILLS
LINCOLNTON, NC 28092
SBA Loan Lender
BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
313113 - Thread Mills
Loan Approval Date
9/7/2001
Loan Approval Gross Amount
$800,000
Loan Approval from the SBA
Of the total $800,000 loan amount, the SBA guaranteed $720,000.
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 5 employees. The SBA loan documents did not indicate that the small business promised to use the funding to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Branch Bank & Trust 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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SBA Approved Banks in Winston Salem, North Carolina
SBA Participating Banks in North Carolina