Fuquay Varina, NC Entrepreneur Gets SBA Loan to Buy Golden Corral restaurant Franchise

Need a loan to invest in a Golden Corral restaurant franchise? The Fidelity Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Fuquay Varina, North Carolina and are interested in buying a Golden Corral restaurant franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by The Fidelity Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GOLDEN CORRAL
FUQUAY VARINA, NC 27526

SBA Loan Lender

THE FIDELITY BANK
100 S MAIN ST
FUQUAY VARINA, NC 27526

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/28/2005

Loan Approval Gross Amount

$375,000

Loan Approval from the SBA

Of the total $375,000 loan amount, the SBA guaranteed $281,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Golden Corral restaurant franchise. At the time of the loan, the company had 55 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, 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.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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Golden Corral Buffet & Grill

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SBA 7A Banks in Fuquay Varina, North Carolina

North Carolina SBA Bank Lenders