Business Loan from Branch Bank & Trust Given to Chiropractors Company

Branch Bank & Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Carolina entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Wendell, North Carolina was able to borrow $171,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $128,250 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: CHIROPRACTORS
WENDELL, NC 27591

SBA Loan Lender

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

This business loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA provides a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621310 - Chiropractors

Loan Approval Date

8/29/2002

Loan Approval Gross Amount

$171,000

Loan Approval from the SBA

Of the total $171,000 loan amount, the SBA guaranteed $128,250.

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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Branch Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Branch Bank & Trust 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.

Related Links:

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Winston Salem, North Carolina

SBA Lenders in North Carolina