Norwood, North Carolina Business Gets SBA-Guaranteed Funding from Bank Of Stanly

An SBA loan from Bank Of Stanly typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Norwood, North Carolina business owner got a $675,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Bank Of Stanly, out of Albemarle, North Carolina. The loan was granted and they received $675,000 to help grow their Norwood, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: INSTITUTIONAL FURNITURE MANUFACTURING
NORWOOD, NC 28128

SBA Loan Lender

BANK OF STANLY
167 N 2ND ST
ALBEMARLE, NC 28001

This debt financing 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

337127 - Institutional Furniture Manufacturing

Loan Approval Date

8/27/2003

Loan Approval Gross Amount

$675,000

Loan Approval from the SBA

Of the total $675,000 loan amount, the SBA guaranteed $506,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of Stanly so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Small Business Loan

Best Banks for Small Business in Albemarle, North Carolina

Getting a Business Loan in North Carolina