Wilmington, North Carolina Bank Lends Money to General Merchandise Stores Company in Wilmington, North Carolina

Get to know Wilmington, North Carolina banks that specialize in business loans and know how to work with entrepreneurs. Branch Bank & Trust is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Wilmington, North Carolina starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Branch Bank & Trust. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
WILMINGTON, NC 28403

SBA Loan Lender

BRANCH BANK & TRUST
109 MARKET ST
WILMINGTON, NC 28401

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5399 - General Merchandise Stores

NAICS Code

452910 - Warehouse Clubs and Superstores

Loan Approval Date

1/29/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 7 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Branch Bank & Trust are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Financing Your Business

Best Wilmington, North Carolina Banks for Small Business

Getting an SBA Loan in North Carolina