Get an SBA Loan for Full-Service Restaurants

Looking for small business loans for full-service restaurants? The SBA may be the answer. This $121,600 full-service restaurants loan was issued by a North Carolina bank.

This company knew how to go about getting a business bank loan. Based in Garner, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Four Oaks Bank & Trust Company, based in Garner, North Carolina.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GARNER, NC 27529

SBA Loan Lender

FOUR OAKS BANK & TRUST COMPANY
200 GLEN RD
GARNER, NC 27524

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/6/2004

Loan Approval Gross Amount

$121,600

Loan Approval from the SBA

Of the total $121,600 loan amount, the SBA guaranteed $103,360.

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 8 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 $121,600 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:

Determining Proper Capital Structure for a Business

Banks in Garner, North Carolina

SBA North Carolina Banks