Loans for Narrow Fabric Mills

With these loans for narrow fabric mills, the SBA guarantees the lender that the loan will be repaid. This narrow fabric mills loan for $200,000 was given to a North Carolina entrepreneur in 2005.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Bank Of Granite, out of Granite Falls, North Carolina. The loan was granted and they received $200,000 to help grow their Mooresville, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: NARROW FABRIC MILLS
MOORESVILLE, NC 28115

SBA Loan Lender

BANK OF GRANITE
23 N MAIN ST
GRANITE FALLS, NC 28630

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

313221 - Narrow Fabric Mills

Loan Approval Date

1/18/2005

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $100,000.

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 22 employees. The SBA loan documents indicated that the loan would help retain 22 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Mooresville NC, you ought to talk with a local Mooresville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mooresville businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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