SBA Loan from Community So. Bank D.B.A Commun Helps Full-Service Restaurants Company

An SBA loan from Community So. Bank D.B.A Commun typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Morehead City, North Carolina business owner got a $1,293,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Community So. Bank D.B.A Commun, out of Parsons, Tennessee. The loan was granted and they received $1,293,000 to help grow their Morehead City, North Carolina business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MOREHEAD CITY, NC 28557

SBA Loan Lender

COMMUNITY SO. BANK D.B.A COMMUN
51 W MAIN ST
PARSONS, TN 38363

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/15/2007

Loan Approval Gross Amount

$1,293,000

Loan Approval from the SBA

Of the total $1,293,000 loan amount, the SBA guaranteed $969,750.

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 60 employees. The SBA loan application for the borrower indicated that the loan would help retain 60 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Community So. Bank D.B.A Commun and they will explain how you can get an SBA loan for your company.

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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