Communityone Bank SBA Loan to Full-Service Restaurants Company

An SBA loan from Communityone Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Archdale, North Carolina business owner got a $600,000 loan.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Communityone Bank, out of Archdale, North Carolina. The loan was granted and they received $600,000 to help grow their Archdale, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ARCHDALE, NC 27263

SBA Loan Lender

COMMUNITYONE BANK
118 TRINDALE RD
ARCHDALE, NC 27263

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/14/2004

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 45 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to add employees or retain any existing employees.

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

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Banking Deregulation's Effects on Entrepreneurship

SBA 7A Banks for Archdale, North Carolina Loans

Getting an SBA Loan in North Carolina