Loan to Buy Hometown Threads Franchise Issued By First-Citizens Bank & Trust

Need money to buy a Hometown Threads franchise? First-Citizens Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Raleigh, North Carolina needed money to invest in a Hometown Threads franchise back in 2004. First-Citizens Bank & Trust issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

HOMETOWN THREADS (TESSA'S THRE
RALEIGH, NC 27610

SBA Loan Lender

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

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.

NAICS Code

453998 - Store Retailers

Loan Approval Date

6/30/2004

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $107,100.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hometown Threads franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First-Citizens Bank & Trust and they will explain how you can get an SBA loan for your company.

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:

HomeTown Threads

Small Business Loan

SBA 7A Lenders in Raleigh, North Carolina

SBA Participating Banks in North Carolina