Bank Loans for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? Try the SBA. This $224,460 limited-service restaurants loan was issued by a South Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bluffton, South Carolina was able to borrow $224,460 from Business Devel Corp - So. Caro. The SBA made the loan possible by guaranteeing $168,345 of this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BLUFFTON, SC 29910

SBA Loan Lender

BUSINESS DEVEL CORP - SO. CARO
111 EXEC CENTER DR, STE 225
COLUMBIA, SC 29221

This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/2/2003

Loan Approval Gross Amount

$224,460

Loan Approval from the SBA

Of the total $224,460 loan amount, the SBA guaranteed $168,345.

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 only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Strategic Investors

Small Business Banks in Columbia, South Carolina

SBA South Carolina Banks