Mount Olive, North Carolina Bank Gives SBA Loan to Full-Service Restaurants Company

Want to talk with a Mount Olive, North Carolina bank about a business loan? Here's one North Carolina business loan, issued by a Mount Olive bank, that was approved by the SBA.

Applying for an SBA loan with Southern Bank & Trust worked out well for our friends at one local company in Corolla, North Carolina. The business was able to get an SBA loan for $75,000. Nice!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
COROLLA, NC 27927

SBA Loan Lender

SOUTHERN BANK & TRUST
100 N CENTER ST
MOUNT OLIVE, NC 28365

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/4/2006

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 10 employees. The loan application indicated that the loan would help retain 10 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Corolla NC, you ought to talk with a local Corolla SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Corolla businesses.

While you may be able to find other ways to get money to start a business, 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.

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