Where to Get Capital for Full-Service Restaurants

With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $225,000 was given to a South Carolina entrepreneur in 2003.

Getting a small business loan in Myrtle Beach, South Carolina was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Beach First National Bank, operating out of Myrtle Beach, South Carolina. Here are the details on this South Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MYRTLE BEACH, SC 29577

SBA Loan Lender

BEACH FIRST NATIONAL BANK
3751 ROBERT M GRISSOM PKWY, S
MYRTLE BEACH, SC 29577

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/3/2003

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

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 only one employee. The SBA loan application for the borrower did not indicate that the company planned to use the money to add employees or retain any existing employees.

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

If you need money to start business in Myrtle Beach SC, you ought to talk with a local Myrtle Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Myrtle Beach businesses.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Business Incubators

Banks in Myrtle Beach, South Carolina

South Carolina SBA Banks