Commercial Loans for Farm and Garden Machinery and Equipment Merchant Wholesalers

With these commercial loans for farm and garden machinery and equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This farm and garden machinery and equipment merchant wholesalers loan for $960,000 was given to a North Carolina entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Mount Airy, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Surrey Bank & Trust, based in Mount Airy, North Carolina.

SBA Loan Borrower

COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS
MOUNT AIRY, NC 27030

SBA Loan Lender

SURREY BANK & TRUST
145 N RENFRO ST
MOUNT AIRY, NC 27030

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423820 - Farm and Garden Machinery and Equipment Merchant Wholesalers

Loan Approval Date

11/18/2004

Loan Approval Gross Amount

$960,000

Loan Approval from the SBA

Of the total $960,000 loan amount, the SBA guaranteed $474,998.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 22 employees. The SBA loan application for the borrower indicated that the loan would help retain 22 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Surrey Bank & Trust so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Financing Your Business

Where to Get an SBA Loan in Mount Airy, North Carolina

North Carolina SBA 7A Lenders