North Carolina SBA Loan Issued to Full-Service Restaurants Company

Small business loans in North Carolina are tough to come by these days. We take a look at one North Carolina small business loan, provided by a Georgia bank, that was approved by the SBA.

Getting a small business loan in Cornelius, North Carolina was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Branch Bank & Trust. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CORNELIUS, NC 28031

SBA Loan Lender

BRANCH BANK & TRUST
1134 CLARK ST
COVINGTON, GA 30326

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

722110 - Full-Service Restaurants

Loan Approval Date

1/24/2005

Loan Approval Gross Amount

$1,166,000

Loan Approval from the SBA

Of the total $1,166,000 loan amount, the SBA guaranteed $874,500.

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 only one employee. The SBA loan documents did not indicate that the small business 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 have been wondering how do i get money to start a business in Cornelius NC, you ought to talk with a local Cornelius SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cornelius businesses.

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 Branch Bank & Trust 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.

Related Links:

Obtaining Funding - How to Borrow Money

Small Bank Loans in Covington, Georgia

SBA Lenders in Georgia