Commercial Loans for Full-Service Restaurants

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $77,500 was given to a North Carolina entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cornelius, North Carolina was able to borrow $77,500 from First Charter Bank. The SBA made the loan possible by guaranteeing $62,000 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CORNELIUS, NC 28031

SBA Loan Lender

FIRST CHARTER BANK
10200 DAVID TAYLOR DR
CHARLOTTE, NC 28262

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/19/2000

Loan Approval Gross Amount

$77,500

Loan Approval from the SBA

Of the total $77,500 loan amount, the SBA guaranteed $62,000.

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 6 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Charter Bank and they will explain how you can get an SBA loan for your company.

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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North Carolina SBA 7A Banks