Saint Paul, NC Entrepreneur Gets SBA Loan to Buy Huddle House Franchise

Need a loan to purchase a Huddle House franchise? First-Citizens Bank & Trust has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Saint Paul, North Carolina needed money to invest in a Huddle House franchise back in 2002. First-Citizens Bank & Trust issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

HUDDLE HOUSE
SAINT PAUL, NC 28348

SBA Loan Lender

FIRST-CITIZENS BANK & TRUST
100 E TRYON RD
RALEIGH, NC 27603

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/21/2002

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Huddle House franchise. At the time of the loan, the company had 54 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great funding source

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First-Citizens Bank & Trust 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:

Huddle House, Inc.

Business Line of Credit

Small Business Banks in Raleigh, North Carolina

Where to Get an SBA Loan North Carolina