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November 21, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Wake Forest, Business Loans > The Fidelity Bank Wake Forest Business Loans > Retail Stores Loan | ||||
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North Carolina Bank SBA Loans
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The Fidelity Bank SBA Loan to Retail Stores CompanyLooking to get a North Carolina small business loan? Here's one North Carolina business loan that was approved by the SBA. This small business needed an SBA business loan in Wake Forest, North Carolina back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from The Fidelity Bank, operating out of Wake Forest, North Carolina. Here are the details on this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender THE FIDELITY BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5999 - Retail Stores Loan Approval Date 6/1/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $32,000. 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 2 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The Fidelity Bank 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. Related Links: The Friends and Family Network SBA Banks in Wake Forest, North Carolina
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