Financing for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? The SBA may be the answer. This $99,400 full-service restaurants loan was issued by a North Carolina bank.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $99,400 to help grow their Palm Harbor, Florida business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PALM HARBOR, FL 34684

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/9/2001

Loan Approval Gross Amount

$99,400

Loan Approval from the SBA

Of the total $99,400 loan amount, the SBA guaranteed $49,700.

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 2 employees. The SBA loan documents indicated that the loan would help generate 13 new jobs and retain 15 existing jobs.

Getting an SBA Loan For Your Business

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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SBA Banks in Charlotte, North Carolina

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