North Carolina Bank Loan Issued to Computer Systems Design Services Company

Business loans in North Carolina are tough to come by these days. We take a look at one North Carolina business loan, provided by a North Carolina bank, that was approved by the SBA.

This business, based in Pilot Mountain, North Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Surrey Bank & Trust. We've got the inside scoop on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: COMPUTER SYSTEMS DESIGN SERVICES
PILOT MOUNTAIN, NC 27041

SBA Loan Lender

SURREY BANK & TRUST
145 N RENFRO ST
MOUNT AIRY, NC 27030

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

541512 - Computer Systems Design Services

Loan Approval Date

5/28/2004

Loan Approval Gross Amount

$287,000

Loan Approval from the SBA

Of the total $287,000 loan amount, the SBA guaranteed $143,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Surrey Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

The Friends and Family Network

Best Banks for Small Business in Mount Airy, North Carolina

SBA North Carolina Lenders