Communityone Bank SBA Loan to Supermarkets And Grocery Stores Company

Communityone Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one North Carolina entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Communityone Bank, out of Hickory, North Carolina. The loan was granted and they received $259,929 to help grow their Maiden, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
MAIDEN, NC 28650

SBA Loan Lender

COMMUNITYONE BANK
1039 2ND ST NE
HICKORY, NC 28601

This bank loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

1/8/2003

Loan Approval Gross Amount

$259,929

Loan Approval from the SBA

Of the total $259,929 loan amount, the SBA guaranteed $194,947.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Communityone Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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SBA Participating Banks in Hickory, North Carolina

North Carolina SBA Bank Lenders