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November 22, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Panama City Beach, Business Loans > Business Loan Center, LLC Panama City Beach Business Loans > Full-Service Restaurants Loan | ||||
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How to Get SBA Loans in Tarboro, North Carolina
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How to Get a Loan for Full-Service RestaurantsWith these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $24,000 was given to a North Carolina entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tarboro, North Carolina was able to borrow $24,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $20,400 of this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender BUSINESS LOAN CENTER, LLC This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started 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 9/22/2006 Loan Approval Gross Amount $24,000 Loan Approval from the SBA Of the total $24,000 loan amount, the SBA guaranteed $20,400. 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 2 employees. The loan application indicated that the loan would help retain 2 existing jobs. Getting an SBA Loan For Your Business Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Banking Deregulation's Effects on Entrepreneurship Best Panama City Beach, Florida Banks for Small Business
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