Full-Service Restaurants Business Loans

Looking for business loans for full-service restaurants? Talk to a banker who works with the SBA. This $30,000 full-service restaurants loan was issued by a South Carolina bank.

This small business knew how to go about getting a business bank loan. Based in Lexington, South Carolina, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Cit. Bank & Trust Inc, based in Columbia, South Carolina.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
LEXINGTON, SC 29072

SBA Loan Lender

FIRST CIT. BANK & TRUST INC
1230 MAIN ST
COLUMBIA, SC 29201

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

722110 - Full-Service Restaurants

Loan Approval Date

3/20/2003

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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Accountant's Role in Securing Financing

SBA Banks in Columbia, South Carolina

Getting an SBA Loan in South Carolina