North Carolina Small Business Loan Issued to Curtain And Drapery Mills Company
Small business loans in North Carolina are tough to come by these days. We take a look at one North Carolina small business loan, provided by a North Carolina bank, that was approved by the SBA.
Getting a small business loan in Pilot Mountain, North Carolina was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Surrey Bank & Trust. Here are the details on this North Carolina small business loan.
SBA Loan Borrower
COMPANY TYPE: CURTAIN AND DRAPERY MILLS
PILOT MOUNTAIN, NC 27041
SBA Loan Lender
SURREY BANK & TRUST
145 N RENFRO ST
MOUNT AIRY, NC 27030
The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
314121 - Curtain and Drapery Mills
Loan Approval Date
9/3/2003
Loan Approval Gross Amount
$180,000
Loan Approval from the SBA
Of the total $180,000 loan amount, the SBA guaranteed $90,000.
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 5 employees. This SBA loan request indicated that the loan would help retain 5 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide smart, affordable business financing for small businesses looking to expand.
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.
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