Mount Airy, North Carolina Lender Lends Money to Retail Stores Company
Get to know Mount Airy, North Carolina banks that specialize in small business loans and know how to work with entrepreneurs. Surrey Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company.
Finding a small business loan in Mount Airy, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Surrey Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.
SBA Loan Borrower
COMPANY TYPE: RETAIL STORES
MOUNT AIRY, NC 27030
SBA Loan Lender
SURREY BANK & TRUST
145 N RENFRO ST
MOUNT AIRY, NC 27030
This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5999 - Retail Stores
Loan Approval Date
3/14/2000
Loan Approval Gross Amount
$190,000
Loan Approval from the SBA
Of the total $190,000 loan amount, the SBA guaranteed $142,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 30 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
Every year, the SBA guarantees over $10 billion for loans just like this one.
If you need emergency business money, 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:
Bank Credit Lines
SBA Participating Banks in Mount Airy, North Carolina
North Carolina SBA 7A Banks