Raleigh, North Carolina Entrepreneur Gets a Business Loan

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

Getting a small business loan in Raleigh, North Carolina was a top priority for this SBA-financed company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from First-Citizens Bank & Trust. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR AND MAINTENANCE
RALEIGH, NC 27603

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
4300 SIX FORKS RD
RALEIGH, NC 27609

This lender processed this debt financing under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

811198 - Automotive Repair and Maintenance

Loan Approval Date

4/5/2002

Loan Approval Gross Amount

$23,000

Loan Approval from the SBA

Of the total $23,000 loan amount, the SBA guaranteed $11,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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