SBA Loan from Bank Of Granite Helps Converted Paper Product Manufacturing Company

An SBA loan from Bank Of Granite typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Newton, North Carolina business owner got a $520,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Newton, North Carolina was able to borrow $520,000 from Bank Of Granite. The SBA made the loan possible by guaranteeing $390,000 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: CONVERTED PAPER PRODUCT MANUFACTURING
NEWTON, NC 28658

SBA Loan Lender

BANK OF GRANITE
25 3RD ST NW
HICKORY, NC 28601

This lender issued this SBA small business loan under the SBA 7A lending 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

322299 - Converted Paper Product Manufacturing

Loan Approval Date

6/19/2001

Loan Approval Gross Amount

$520,000

Loan Approval from the SBA

Of the total $520,000 loan amount, the SBA guaranteed $390,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 11 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to hire new employees 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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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Banks in Hickory, North Carolina

SBA Lenders in North Carolina