Consumer Goods Rental Commercial Loans

With these commercial loans for consumer goods rental, the SBA guarantees the lender that the loan will be repaid. This consumer goods rental loan for $950,000 was given to a North Carolina entrepreneur in 2003.

This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with First South Bank, out of Washington, North Carolina. The loan was granted and they received $950,000 to help grow their Rocky Mount, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: CONSUMER GOODS RENTAL
ROCKY MOUNT, NC 27803

SBA Loan Lender

FIRST SOUTH BANK
1311 CAROLINA AVE
WASHINGTON, NC 27889

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532299 - Consumer Goods Rental

Loan Approval Date

10/6/2003

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $665,000.

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 20 employees. The SBA loan documents did not indicate that the small business promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 South Bank 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:

Financing Your Business

SBA Banks in Washington, North Carolina

Getting an SBA Loan in North Carolina