Business Loan from Bank Of Stanly Given to Full-Service Restaurants Company

An SBA loan from Bank Of Stanly typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Albemarle, North Carolina business owner got a $45,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Albemarle, North Carolina was able to borrow $45,000 from Bank Of Stanly. The SBA made the loan possible by guaranteeing $22,500 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ALBEMARLE, NC 28001

SBA Loan Lender

BANK OF STANLY
167 N 2ND ST
ALBEMARLE, NC 28001

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/23/2005

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $22,500.

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 2 employees. The loan application indicated that the loan would help generate 28 new jobs and retain 30 existing jobs.

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.

We can help you find the best banks for small businesses in Albemarle or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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