Business Loan from The Fidelity Bank Given to Floor Laying And Other Floor Work Company

An SBA loan from The Fidelity Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Raleigh, North Carolina business owner got a $25,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with The Fidelity Bank, out of Raleigh, North Carolina. The loan was granted and they received $25,000 to help grow their Raleigh, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: FLOOR LAYING AND OTHER FLOOR WORK
RALEIGH, NC 21615

SBA Loan Lender

THE FIDELITY BANK
5712 CREEDMOOR RD
RALEIGH, NC 27612

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1752 - Floor Laying and Other Floor Work

NAICS Code

235520 - Floor Laying and Floor Contractors

Loan Approval Date

3/8/2000

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $20,000.

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 10 employees. The loan application did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

Related Links:

Startup Funding Tip

SBA Participating Banks in Raleigh, North Carolina

North Carolina SBA Banks