Entrepreneur Works With Plymouth, North Carolina Bank to Get an SBA Loan

Get business loans from a Plymouth, North Carolina bank that knows how to treat small business owners right! If this company can get a loan, there's no reason you can't do it too.

Southern Bank & Trust is a Plymouth, North Carolina small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a North Carolina company.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
ROPER, NC 27970

SBA Loan Lender

SOUTHERN BANK & TRUST
612 WASHINGTON ST
PLYMOUTH, NC 27962

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

10/17/2003

Loan Approval Gross Amount

$94,000

Loan Approval from the SBA

Of the total $94,000 loan amount, the SBA guaranteed $79,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Find Start-Up Capital

SBA Banks in Plymouth, North Carolina

SBA North Carolina Lenders