Borrowing Money for Limited-Service Restaurants

With these bank loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $545,000 was given to a North Carolina entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Cary, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was New Century Bank, based in Dunn, North Carolina.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CARY, NC 27511

SBA Loan Lender

NEW CENTURY BANK
700 W CUMBERLAND ST
DUNN, NC 28334

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/11/2006

Loan Approval Gross Amount

$545,000

Loan Approval from the SBA

Of the total $545,000 loan amount, the SBA guaranteed $408,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Obtaining Funding - How to Decide How Much to Raise

Small Business Banks in Dunn, North Carolina

North Carolina SBA Banks