Get an SBA Loan for Cafeterias, Grill Buffets, and Buffets

With these loans for cafeterias, grill buffets, and buffets, the SBA guarantees the lender that the loan will be repaid. This cafeterias, grill buffets, and buffets loan for $40,000 was given to a North Carolina entrepreneur in 2004.

This company knew how to go about getting a business bank loan. Based in Kill Devil Hills, North Carolina, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Southern Bank & Trust, based in Mount Olive, North Carolina.

SBA Loan Borrower

COMPANY TYPE: CAFETERIAS, GRILL BUFFETS, AND BUFFETS
KILL DEVIL HILLS, NC 27948

SBA Loan Lender

SOUTHERN BANK & TRUST
100 N CENTER ST
MOUNT OLIVE, NC 28365

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722212 - Cafeterias, Grill Buffets, and Buffets

Loan Approval Date

1/30/2004

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the funding would help create 4 new jobs.

Next Steps for Getting an SBA Loan

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $40,000 loan. Remember, where there is a will, there is a way!

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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