SBA Loan from Southern Bank & Trust Helps Eating Places Company

An SBA loan from Southern Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Kill Devil Hills, North Carolina business owner got a $30,000 loan.

This growing company knew how to go about getting a business bank loan. Based in Kill Devil Hills, North Carolina, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Southern Bank & Trust, based in Kill Devil Hills, North Carolina.

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 loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/22/2002

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 6 employees. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

We can help you find the best banks for small businesses in Kill Devil Hills or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Bank Credit Lines

Who Lends Money to Small Businesses in Kill Devil Hills, North Carolina

Where to Get an SBA Loan North Carolina