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November 21, 2024 |
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| Home > Small Business Lenders by State > Maryland Business Loan Sources > Winston Salem, Business Loans > Branch Bank & Trust Winston Salem Business Loans > Logging Loan | ||||
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North Carolina SBA 7A Lenders
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Winston Salem, North Carolina Bank Gives SBA Loan to Logging CompanyThinking about meeting with a Winston Salem, North Carolina bank about a small business loan? Here's one Maryland business loan, issued by a Winston Salem bank, that was approved by the SBA. Applying for an SBA loan with Branch Bank & Trust worked out well for our friends at one local company in Oakland, Maryland. They got an SBA loan for $279,000. Awesome! SBA Loan Borrower COMPANY TYPE: LOGGING SBA Loan Lender BRANCH BANK & TRUST This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 113310 - Logging Loan Approval Date 4/23/2004 Loan Approval Gross Amount $279,000 Loan Approval from the SBA Of the total $279,000 loan amount, the SBA guaranteed $139,500. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $279,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Accountant's Role in Securing Financing SBA Participating Banks in Winston Salem, North Carolina
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