Textile Product Mills Loans
With these loans for textile product mills, the SBA guarantees the lender that the loan will be repaid. This textile product mills loan for $36,000 was given to a North Carolina entrepreneur in 2002.
This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Surrey Bank & Trust, out of Mount Airy, North Carolina. The loan was granted and they received $36,000 to help grow their Mount Airy, North Carolina business.
SBA Loan Borrower
COMPANY TYPE: BUSINESS SERVICES
MOUNT AIRY, NC 27030
SBA Loan Lender
SURREY BANK & TRUST
145 N RENFRO ST
MOUNT AIRY, NC 27030
This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7389 - Business Services
NAICS Code
314999 - Textile Product Mills
Loan Approval Date
1/30/2002
Loan Approval Gross Amount
$36,000
Loan Approval from the SBA
Of the total $36,000 loan amount, the SBA guaranteed $30,600.
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 2 employees. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
If you have been wondering how do i get money to start a business in Mount Airy NC, you ought to talk with a local Mount Airy SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mount Airy businesses.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
A Company That Helps Entrepreneurs
SBA 7A Lenders in Mount Airy, North Carolina
North Carolina SBA 7A Banks