Limited-Service Restaurants Small Business Loans

Looking for small business loans for limited-service restaurants? Talk to a banker who works with the SBA. This $451,900 limited-service restaurants loan was issued by a Tennessee bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Raleigh, North Carolina was able to borrow $451,900 from Community So. Bank D.B.A Commun. The SBA made the loan possible by guaranteeing $338,925 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
RALEIGH, NC 27601

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

722211 - Limited-Service Restaurants

Loan Approval Date

11/2/2006

Loan Approval Gross Amount

$451,900

Loan Approval from the SBA

Of the total $451,900 loan amount, the SBA guaranteed $338,925.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community So. Bank D.B.A Commun 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.

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