Textile Machinery Manufacturing Small Business Loans

With these small business loans for textile machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This textile machinery manufacturing loan for $200,000 was given to a North Carolina entrepreneur in 2003.

Getting a small business loan in Mount Airy, North Carolina was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Southern Commun Bank & Tr, operating out of Mount Airy, North Carolina. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: TEXTILE MACHINERY MANUFACTURING
MOUNT AIRY, NC 27030

SBA Loan Lender

SOUTHERN COMMUN BANK & TR
2010 COMMUNITY DR
MOUNT AIRY, NC 27030

This lender issued this small business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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.

NAICS Code

333292 - Textile Machinery Manufacturing

Loan Approval Date

5/13/2003

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

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 47 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $200,000 loan. Remember, fight for what you want, and it will be yours!

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.

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