Mount Airy, North Carolina Business Gets SBA-Guaranteed Funding from Surrey Bank & Trust
Surrey Bank & Trust 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.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mount Airy, North Carolina was able to borrow $700,000 from Surrey Bank & Trust. The SBA made the loan possible by guaranteeing $350,000 of this North Carolina small business loan.
SBA Loan Borrower
COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
MOUNT AIRY, NC 27030
SBA Loan Lender
SURREY BANK & TRUST
145 N RENFRO ST
MOUNT AIRY, NC 27030
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
531120 - Lessors of Nonresidential Buildings
Loan Approval Date
5/24/2004
Loan Approval Gross Amount
$700,000
Loan Approval from the SBA
Of the total $700,000 loan amount, the SBA guaranteed $350,000.
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. The loan application indicated that the loan would help retain 2 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
We can help you find the best banks for small businesses in Mount Airy 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.
Related Links:
Role of Business Plan When Raising Money
SBA Participating Banks in Mount Airy, North Carolina
North Carolina SBA Bank Lenders