Limited-Service Restaurants SBA Loans

Looking for SBA loans for limited-service restaurants? The SBA may be the answer. This $92,250 limited-service restaurants loan was issued by a North Carolina bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Summerfield, North Carolina was able to borrow $92,250 from Carolina Bank. The SBA made the loan possible by guaranteeing $78,412 of this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SUMMERFIELD, NC 27358

SBA Loan Lender

CAROLINA BANK
2604 LAWNDALE DR
GREENSBORO, NC 27408

This lender issued this particular bank loan 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

722211 - Limited-Service Restaurants

Loan Approval Date

3/8/2002

Loan Approval Gross Amount

$92,250

Loan Approval from the SBA

Of the total $92,250 loan amount, the SBA guaranteed $78,412.

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. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

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

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

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.

Related Links:

Understanding Dilution

Banks in Greensboro, North Carolina

Find an SBA Lender in North Carolina