Troy, North Carolina Business Gets SBA-Guaranteed Funding from Branch Bank & Trust

Branch Bank & Trust has a track record as a leading provider of SBA loans. Find out how this North Carolina entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Troy, North Carolina was able to borrow $231,746 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $173,810 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: NATURAL GAS TRANSMISSION
TROY, NC 27371

SBA Loan Lender

BRANCH BANK & TRUST
200 W 2ND ST
WINSTON SALEM, NC 27101

This lender issued this business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4922 - Natural Gas Transmission

NAICS Code

486210 - Pipeline Transportation of Natural Gas

Loan Approval Date

5/4/2000

Loan Approval Gross Amount

$231,746

Loan Approval from the SBA

Of the total $231,746 loan amount, the SBA guaranteed $173,810.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Branch Bank & Trust that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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