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November 15, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Washington, Business Loans > First South Bank Washington Business Loans > Consumer Goods Rental Loan | ||||
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First South Bank Business Loans
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Financing for Consumer Goods RentalLooking for loans for consumer goods rental? Try the SBA. This $350,000 consumer goods rental loan was issued by a North Carolina bank. This company 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 $350,000 to help grow their Rocky Mt, North Carolina business. SBA Loan Borrower COMPANY TYPE: CONSUMER GOODS RENTAL SBA Loan Lender FIRST SOUTH BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to our country's hard-working small business owners. 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 $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $245,000. 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 application for the borrower did not indicate that the company planned to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source 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 First South Bank 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: Family and Friend Investors - Your First Financiers Best Washington, North Carolina Banks for Small Business
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