Newton, North Carolina Bank Lends Money to Boat Dealers Company in Newton, North Carolina

Get to know Newton, North Carolina banks that specialize in business loans and know how to work with entrepreneurs. Bank Of Granite is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Newton, 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 Bank Of Granite. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BOAT DEALERS
NEWTON, NC 28658

SBA Loan Lender

BANK OF GRANITE
311 N MAIN AVE
NEWTON, NC 28658

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5551 - Boat Dealers

NAICS Code

441222 - Boat Dealers

Loan Approval Date

6/14/2000

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 14 employees. This SBA loan request did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Financing Your Business

SBA 7A Banks in Newton, North Carolina

North Carolina SBA Banks