 |
 |
December 19, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Mount Olive, Business Loans > Southern Bank & Trust Mount Olive Business Loans > Snack And Nonalcoholic Beverage Bars Loan | ||||
 |
||||
Southern Bank & Trust
|
||||
 |
Southern Bank & Trust SBA Loan to Snack And Nonalcoholic Beverage Bars CompanyAn SBA loan from Southern Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rocky Mount, North Carolina business owner got a $40,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rocky Mount, North Carolina was able to borrow $40,000 from Southern Bank & Trust. The SBA made the loan possible by guaranteeing $20,000 of this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS SBA Loan Lender SOUTHERN BANK & TRUST The lender provided this commercial 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 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 10/3/2007 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. 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 6 employees. The SBA loan application for the borrower indicated that the loan would help create 6 new jobs. Next Steps for Getting an SBA Loan 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. 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 Southern 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: Who Lends Money to Small Businesses in Mount Olive, North Carolina
|
|
||
|
||||
|
|
||||