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November 15, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Washington, Business Loans > First South Bank Washington Business Loans > Rooming And Boarding Houses Loan | ||||
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Washington, North Carolina SBA 7A Banks
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Entrepreneur Works With Washington, North Carolina Bank to Get an SBA LoanA Washington, North Carolina business loan can be yours. Learn how a company got a $300,000 business loan from this North Carolina bank. This loan to a local firm is a good example of an SBA loan. First South Bank made the loan and the SBA guaranteed a portion of the loan. Many other North Carolina entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: ROOMING AND BOARDING HOUSES SBA Loan Lender FIRST SOUTH BANK This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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 7021 - Rooming and Boarding Houses NAICS Code 721310 - Rooming and Boarding Houses Loan Approval Date 7/14/2000 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the company promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. We can help you find the best banks for small businesses in New Bern 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: Good Banks for Small Business in Washington, North Carolina
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