Dunn, North Carolina Lender Lends Money to Full-Service Restaurants Company

Want to talk with a Dunn, North Carolina bank about a small business loan? Here's one North Carolina business loan, issued by a Dunn bank, that was approved by the SBA.

Applying for an SBA loan with New Century Bank worked out well for our friends at one local firm in Steadman, North Carolina. They got an SBA loan for $176,500. Awesome!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
STEADMAN, NC 28391

SBA Loan Lender

NEW CENTURY BANK
700 W CUMBERLAND ST
DUNN, NC 28334

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/1/2006

Loan Approval Gross Amount

$176,500

Loan Approval from the SBA

Of the total $176,500 loan amount, the SBA guaranteed $132,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from New Century Bank 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:

Business Line of Credit

Small Business Banks in Dunn, North Carolina

North Carolina SBA 7A Lenders