Communityone Bank SBA Loan to Sawmills Company
Communityone Bank has a track record as a leading provider of SBA loans. Find out how this North Carolina entrepreneur received an SBA loan from them.
This growing company knew how to go about getting a business bank loan. Based in North Wilkesboro, North Carolina, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Communityone Bank, based in North Wilkesboro, North Carolina.
SBA Loan Borrower
COMPANY TYPE: SAWMILLS
NORTH WILKESBORO, NC 28659
SBA Loan Lender
COMMUNITYONE BANK
5 SPARTA RD
NORTH WILKESBORO, NC 28659
This 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.
NAICS Code
321113 - Sawmills
Loan Approval Date
9/30/2002
Loan Approval Gross Amount
$125,000
Loan Approval from the SBA
Of the total $125,000 loan amount, the SBA guaranteed $93,750.
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 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great source of funding.
There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.
Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!
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:
Getting a Small Business Loan
SBA 7A Banks for North Wilkesboro, North Carolina Loans
North Carolina SBA 7A Lenders