New Century Bank Provides SBA Loan to Buy Zaxby's Franchise

Borrowing money to buy a Zaxby's franchise? New Century Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Wilmington, North Carolina needed money to invest in a Zaxby's franchise back in 2005. New Century Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

ZAXBY'S
WILMINGTON, NC 28405

SBA Loan Lender

NEW CENTURY BANK
700 W CUMBERLAND ST
DUNN, NC 28334

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/12/2005

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Zaxby's franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Wilmington NC, you ought to talk with a local Wilmington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Wilmington businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. New Century Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, New Century Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Zaxby's

Business Incubators

SBA Participating Banks in Dunn, North Carolina

North Carolina SBA Banks