Southern Bank & Trust Gives SBA Loan to Eating Places Company

Would a North Carolina small business loan help your small business to grow and prosper? If so, you may want to talk with this North Carolina bank, which offers SBA loans to North Carolina entrepreneurs.

This business, based in Kill Devil Hills, North Carolina, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Southern Bank & Trust. We've got the inside scoop on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
KILL DEVIL HILLS, NC 27948

SBA Loan Lender

SOUTHERN BANK & TRUST
202 S CROATAN HWY
KILL DEVIL HILLS, NC 27948

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

7/6/2000

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $48,000.

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 3 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

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 $60,000 loan. Remember, fight for what you want, and it will be yours!

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:

Debt Financing

SBA Participating Banks in Kill Devil Hills, North Carolina

Where to Get an SBA Loan North Carolina