Financing for Packaged Frozen Food Wholesalers

Looking for commercial loans for packaged frozen food wholesalers? Talk to a banker who works with the SBA. This $600,000 packaged frozen food wholesalers loan was issued by a North Carolina bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First-Citizens Bank & Trust, out of Shallotte, North Carolina. The loan was granted and they received $600,000 to help grow their Ocean Isle Beach, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: PACKAGED FROZEN FOOD WHOLESALERS
OCEAN ISLE BEACH, NC 28469

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
5043 MAIN ST, COASTAL PLZ
SHALLOTTE, NC 28459

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

422420 - Packaged Frozen Food Wholesalers

Loan Approval Date

4/14/2005

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $540,000.

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 2 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 $600,000 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.

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