Local Business Gets a North Carolina Bank Loan

Would a North Carolina business loan help your company expand? If so, you may want to talk with this North Carolina bank, which offers SBA loans to North Carolina entrepreneurs.

You can learn something about getting a small business loan in Raleigh, North Carolina by studying this loan to a local business, made back in 2007. Banks like Capital Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
RALEIGH, NC 27609

SBA Loan Lender

CAPITAL BANK
333 FAYETTEVILLE ST, STE 102
RALEIGH, NC 27601

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

5/29/2007

Loan Approval Gross Amount

$305,000

Loan Approval from the SBA

Of the total $305,000 loan amount, the SBA guaranteed $152,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower indicated that the loan would help generate 22 new jobs and retain 25 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Capital Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Understanding Dilution

SBA Banks in Raleigh, North Carolina

Getting an SBA Loan in North Carolina