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December 20, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Kill Devil Hills, Business Loans > Southern Bank & Trust Kill Devil Hills Business Loans > Full-Service Restaurants Loan | ||||
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Who Can Get a Business Loan in Kill Devil Hills, North Carolina?
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Full-Service Restaurants Commercial LoansLooking for commercial loans for full-service restaurants? Talk to a banker who works with the SBA. This $500,000 full-service restaurants loan was issued by a North Carolina bank. Getting a small business loan in Kill Devil Hills, North Carolina was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Southern Bank & Trust, operating out of Kill Devil Hills, North Carolina. Here are the details on this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender SOUTHERN BANK & TRUST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/9/2002 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Southern Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Southern Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - How to Borrow Money Best Kill Devil Hills, North Carolina Banks for Small Business
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