Charlotte, North Carolina Bank Lends Money to Limited-Service Restaurants Company in Smyrna, Georgia

A Charlotte, North Carolina SBA loan can be yours. Learn how one firm got a $7,000 business loan from this North Carolina bank.

This loan to a local firm is a good example of an SBA loan. Bank Of America made the loan and the SBA guaranteed a portion of the loan. Many other Georgia entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SMYRNA, GA 30080

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

722211 - Limited-Service Restaurants

Loan Approval Date

5/17/2005

Loan Approval Gross Amount

$7,000

Loan Approval from the SBA

Of the total $7,000 loan amount, the SBA guaranteed $3,500.

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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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Understanding Dilution

SBA Approved Banks in Charlotte, North Carolina

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