Raising Money for Limited-Service Restaurants

Looking for business loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $103,500 limited-service restaurants loan was issued by a North Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fairhope, Alabama was able to borrow $103,500 from Rbc Centura Bank. The SBA made the loan possible by guaranteeing $51,750 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
FAIRHOPE, AL 36532

SBA Loan Lender

RBC CENTURA BANK
3201 BEECHLEAF CT
RALEIGH, NC 27604

This loan for a small business 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

722211 - Limited-Service Restaurants

Loan Approval Date

12/20/2007

Loan Approval Gross Amount

$103,500

Loan Approval from the SBA

Of the total $103,500 loan amount, the SBA guaranteed $51,750.

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 only one employee. The SBA loan documents indicated that the loan would help generate 4 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to find business people willing to loan money, 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.

Related Links:

Business Credit Evaluation

SBA Banks in Raleigh, North Carolina

North Carolina SBA 7A Lenders