SBA Loan from Self-Help Cu Helps Full-Service Restaurants Company

Self-Help Cu and the SBA work together to get business loans for growing small businesses. Here's an example of how a North Carolina entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Raleigh, North Carolina was an essential business goal for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Self-Help Cu, operating out of Greensboro, North Carolina. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
RALEIGH, NC 27610

SBA Loan Lender

SELF-HELP CU
122 N ELM ST, STE 1015
GREENSBORO, NC 27410

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

3/24/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 2 employees. This SBA loan request indicated that the loan would help generate 20 new jobs and retain 2 existing jobs.

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

If you are raising money in Raleigh NC, you ought to talk with a local Raleigh SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Raleigh businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Self-Help Cu so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Financing Your Business

SBA Participating Banks in Greensboro, North Carolina

Where to Get an SBA Loan North Carolina