Raleigh, North Carolina Bank Lends Money to Office Supplies And Stationery Company in Statesville, North Carolina

Get to know Raleigh, North Carolina banks that specialize in business loans and know how to work with entrepreneurs. First-Citizens Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Statesville, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from First-Citizens Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: OFFICE SUPPLIES AND STATIONERY
STATESVILLE, NC 28625

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

453210 - Office Supplies and Stationery

Loan Approval Date

12/9/2002

Loan Approval Gross Amount

$26,500

Loan Approval from the SBA

Of the total $26,500 loan amount, the SBA guaranteed $13,250.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing 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.

While you may be able to find other ways to get money to start a business, 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:

Angel Investors

SBA 7A Banks in Raleigh, North Carolina

SBA North Carolina Banks