Self-Help Cu SBA Loan to Retail Bakeries Company

An SBA loan from Self-Help Cu 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 $80,675 loan.

This growing company knew how to go about getting a business bank loan. Based in Mooresville, North Carolina, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Self-Help Cu, based in Durham, North Carolina.

SBA Loan Borrower

COMPANY TYPE: RETAIL BAKERIES
MOORESVILLE, NC 28117

SBA Loan Lender

SELF-HELP CU
301 W MAIN ST
DURHAM, NC 27701

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5461 - Retail Bakeries

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

1/25/2002

Loan Approval Gross Amount

$80,675

Loan Approval from the SBA

Of the total $80,675 loan amount, the SBA guaranteed $68,573.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. The loan application did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Self-Help Cu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Advice on Getting a Small Business Loan

Best Banks for Small Business in Durham, North Carolina

Getting an SBA Loan in North Carolina