Mount Airy, North Carolina Business Gets SBA-Guaranteed Funding from Surrey Bancorp

Surrey Bancorp and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Carolina entrepreneur was able to get a loan to take a small business to the next level.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Surrey Bancorp, out of Mount Airy, North Carolina. The loan was granted and they received $387,600 to help grow their Mount Airy, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: HIGHWAY, STREET, AND BRIDGE CONSTRUCTION
MOUNT AIRY, NC 27030

SBA Loan Lender

SURREY BANCORP
145 N RENFRO ST
MOUNT AIRY, NC 27030

When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

237310 - Highway, Street, and Bridge Construction

Loan Approval Date

12/30/2003

Loan Approval Gross Amount

$387,600

Loan Approval from the SBA

Of the total $387,600 loan amount, the SBA guaranteed $290,700.

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

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Surrey Bancorp had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Surrey Bancorp made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

SBIR Funding

SBA 7A Banks for Mount Airy, North Carolina Loans

Getting a Business Loan in North Carolina