Borrowing Money for Full-Service Restaurants

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $308,000 was given to a North Carolina entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Huntersville, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First-Citizens Bank & Trust, based in Raleigh, North Carolina.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
HUNTERSVILLE, NC 28078

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
4300 SIX FORKS RD
RALEIGH, NC 27609

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/12/2004

Loan Approval Gross Amount

$308,000

Loan Approval from the SBA

Of the total $308,000 loan amount, the SBA guaranteed $231,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 40 employees. This SBA loan request indicated that the loan would help generate 40 new jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 $308,000 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:

Small Business Credit Cards

SBA Approved Banks in Raleigh, North Carolina

Getting an SBA Loan in North Carolina