North Carolina Business Loan Issued to Limited-Service Restaurants Company

Searching for a North Carolina SBA loan? This North Carolina entrepreneur got an SBA loan, provided by a North Carolina bank that works with the SBA to help small business owners.

Getting a small business loan in Washington, North Carolina was a top priority for this particular business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Southern Bank & Trust. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
WASHINGTON, NC 27889

SBA Loan Lender

SOUTHERN BANK & TRUST
7458 MAIN ST
BETHEL, NC 27812

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/15/2005

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

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 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Small Business Credit Cards

SBA Participating Banks in Bethel, North Carolina

Where to Get an SBA Loan North Carolina