Winston Salem, North Carolina Entrepreneur Gets a Business Loan

SBA loans in North Carolina are are few and far betweeen these days. We take a look at one North Carolina SBA loan, provided by a North Carolina bank, that was approved by the SBA.

You can learn something about getting a small business loan in Winston Salem, North Carolina by studying this loan to a local business, made back in 2002. Banks like Southern Commun Bank & Tr may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: TEMPORARY HELP SERVICES
WINSTON SALEM, NC 27114

SBA Loan Lender

SOUTHERN COMMUN BANK & TR
4701 COUNTRY CLUB RD
WINSTON SALEM, NC 27104

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561320 - Temporary Help Services

Loan Approval Date

8/28/2002

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 180 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Raising Venture Capital

SBA 7A Banks for Winston Salem, North Carolina Loans

Find an SBA Lender in North Carolina