Loan to Buy Moe's Sw Grill Franchise Issued By The Fidelity Bank

Borrowing money to buy a Moe's Sw Grill franchise? The Fidelity Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Moe's Sw Grill franchise? If so, here's a 2003 SBA franchise loan that you should know about. The Fidelity Bank was the lender and the entrepreneur was based in Durham, North Carolina.

SBA Loan Borrower

MOE'S SOUTHWESTERN GRILL
DURHAM, NC 27609

SBA Loan Lender

THE FIDELITY BANK
2819 JONES FRANKLIN RD
RALEIGH, NC 27606

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/12/2003

Loan Approval Gross Amount

$307,200

Loan Approval from the SBA

Of the total $307,200 loan amount, the SBA guaranteed $230,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Moe's Sw Grill franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company 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?

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $307,200 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Moe's Southwest Grill

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Raleigh, North Carolina

SBA North Carolina Lenders