Charlotte is the most populous city in North Carolina. It is the county seat of Mecklenburg County and the second-largest city in the southeastern United States, just behind Jacksonville, Florida. In 2019, the U.S. Census Bureau estimated the population was 885,708, making it the 15th-most populous city in the United States. The Charlotte metropolitan area ranks 22nd-largest in the U.S., and had a 2019 population of 2,569,213. The Charlotte metropolitan area is part of a sixteen-county market region or combined statistical area with a 2019 U.S. Census estimated population of 2,897,881.
Charlotte is a major city in the southeastern United States and is the headquarters for Bank of America. Other notable companies headquartered in Charlotte include Lowe's, Belk, Duke Energy, Nucor Steel, Sealed Air Corporation, and Sonic Automotive. The Charlotte area is home to the corporate headquarters of a number of notable companies, including Family Dollar, Goodrich Corporation, Harris Teeter, Hendrick Motorsports, Honeywell, Ingersoll Rand, Lance, Inc., Nascar, Shutterfly, Snyder's-Lance, and Sonic Automotive. The city is also home to a number of major league sports teams, including the Carolina Panthers of the National Football League, the Charlotte Hornets of the National Basketball Association, the Charlotte Checkers of the American Hockey League, and the Charlotte Independence of the United Soccer League.
Comparing SBA loan types in Charlotte
Three SBA programs come up most often for Charlotte, North Carolina businesses, and they do different jobs.
Small business loans available in Charlotte
An SBA 7(a) loan made to a Charlotte, North Carolina business is made by a participating lender, not by the SBA. The lender underwrites it, sets the rate within the SBA maximum, and services it. What varies locally is which lenders are active, not the program rules.
Common uses here are the same as everywhere: working capital, equipment, owner-occupied commercial real estate, refinancing business debt, and buying an existing business.
Insurance and closing
Most SBA lenders require hazard and, where the collateral is real property, property insurance in place before closing. See commercial property insurance for businesses and ways to ensure your SBA loan closes smoothly.
Getting started in Charlotte
Check the eligibility requirements, run the numbers with the SBA 7(a) loan calculator, then get financing and we will route your inquiry to lending partners.