Granite Falls, North Carolina Lender Lends Money to Home Furnishing Merchant Wholesalers Company

Get to know Granite Falls, North Carolina banks that specialize in small business loans and know how to work with entrepreneurs. Bank Of Granite is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Morganton, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Bank Of Granite. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHING MERCHANT WHOLESALERS
MORGANTON, NC 28655

SBA Loan Lender

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

The lender provided this debt financing 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

423220 - Home Furnishing Merchant Wholesalers

Loan Approval Date

5/8/2006

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $85,000.

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 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We can help you find the best banks for small businesses in Morganton or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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