Firm Gets a North Carolina Small Business Loan

Looking to get a North Carolina small business loan? This North Carolina entrepreneur got a small business loan, provided by an Ohio bank that works with the SBA to help small business owners.

By giving the right information to Ncb, Fsb, this Mooresville, North Carolina business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: TESTING LABORATORIES
MOORESVILLE, NC 28115

SBA Loan Lender

NCB, FSB
139 S HIGH ST
HILLSBORO, OH 45133

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541380 - Testing Laboratories

Loan Approval Date

6/21/2002

Loan Approval Gross Amount

$551,500

Loan Approval from the SBA

Of the total $551,500 loan amount, the SBA guaranteed $413,625.

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 2 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 Ncb, Fsb 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:

Accountant's Role in Securing Financing

Who Lends Money to Small Businesses in Hillsboro, Ohio

Ohio SBA 7A Lenders