SBA Loan from Surrey Bank & Trust Helps Testing Laboratories Company
An SBA loan from Surrey Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pinnacle, North Carolina business owner got a $36,500 loan.
This small firm knew how to go about getting a business bank loan. Based in Pinnacle, North Carolina, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Surrey Bank & Trust, based in Mount Airy, North Carolina.
SBA Loan Borrower
COMPANY TYPE: TESTING LABORATORIES
Pinnacle, NC 27043
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
541380 - Testing Laboratories
Loan Approval Date
5/23/2006
Loan Approval Gross Amount
$36,500
Loan Approval from the SBA
Of the total $36,500 loan amount, the SBA guaranteed $18,250.
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 retain 5 existing jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Surrey Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!
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:
SBIR Funding
Small Business Banks in Mount Airy, North Carolina
Where to Get an SBA Loan North Carolina