Where to Get Capital for Book Stores

With these SBA loans for book stores, the SBA guarantees the lender that the loan will be repaid. This book stores loan for $115,000 was given to a North Carolina entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Winston-Salem, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Self-Help Cu, based in Durham, North Carolina.

SBA Loan Borrower

COMPANY TYPE: BOOK STORES
WINSTON-SALEM, NC 27106

SBA Loan Lender

SELF-HELP CU
301 W MAIN ST
DURHAM, NC 27701

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451211 - Book Stores

Loan Approval Date

11/7/2005

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $97,750.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

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

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Self-Help Cu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

504 Loans

Banks in Durham, North Carolina

North Carolina SBA Banks