Community So. Bank D.B.A Commun Gives Bank Loan to Gasoline Stations With Convenience Stores Company
North CarolinaBank loans are available to North Carolina firms through the SBA. In this case, a Tennessee bank provides the loan.
By giving the right information to Community So. Bank D.B.A Commun, this Troutman, North Carolina business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: GASOLINE STATIONS WITH CONVENIENCE STORES
TROUTMAN, NC 28166
SBA Loan Lender
COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
447110 - Gasoline Stations with Convenience Stores
Loan Approval Date
5/6/2005
Loan Approval Gross Amount
$1,900,000
Loan Approval from the SBA
Of the total $1,900,000 loan amount, the SBA guaranteed $1,425,000.
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 only one employee. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 1 existing job.
Start the Process for Getting an SBA Loan Today!
Every year, the SBA guarantees over $10 billion for loans just like this one.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community So. Bank D.B.A Commun had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community So. Bank D.B.A Commun made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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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