Business Loan from First-Citizens Bank & Trust Given to Limousine Service Company

An SBA loan from First-Citizens Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Mooresville, North Carolina business owner got a $34,100 loan.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First-Citizens Bank & Trust, out of Raleigh, North Carolina. The loan was granted and they received $34,100 to help grow their Mooresville, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: LIMOUSINE SERVICE
MOORESVILLE, NC 28115

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
4300 SIX FORKS RD
RALEIGH, NC 27609

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

485320 - Limousine Service

Loan Approval Date

7/31/2003

Loan Approval Gross Amount

$34,100

Loan Approval from the SBA

Of the total $34,100 loan amount, the SBA guaranteed $17,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the borrowed money would help generate 2 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First-Citizens 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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