Get an SBA Loan for General Merchandise Stores

With these small business loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $86,400 was given to a North Carolina entrepreneur in 2004.

Getting a small business loan in Statesville, North Carolina was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Bank Of Granite, operating out of Hickory, North Carolina. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
STATESVILLE, NC 28620

SBA Loan Lender

BANK OF GRANITE
25 3RD ST NW
HICKORY, NC 28601

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

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

2/11/2004

Loan Approval Gross Amount

$86,400

Loan Approval from the SBA

Of the total $86,400 loan amount, the SBA guaranteed $73,440.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the company promised 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 small business or need money for an existing business, an SBA loan can be a great source of funding.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of Granite so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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.

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