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May 17, 2024 |
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| Home > Small Business Lenders by State > North Carolina Business Loan Sources > Smithfield, Business Loans > Four Oaks Bank & Trust Company Smithfield Business Loans > Eating Places Loan | ||||
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North Carolina Small Business Funding
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Limited-Service Restaurants Bank LoansLooking for bank loans for limited-service restaurants? The SBA may be the answer. This $76,000 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 Smithfield, North Carolina was able to borrow $76,000 from Four Oaks Bank & Trust Company. The SBA made the loan possible by guaranteeing $64,600 of this North Carolina small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender FOUR OAKS BANK & TRUST COMPANY This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 4/17/2003 Loan Approval Gross Amount $76,000 Loan Approval from the SBA Of the total $76,000 loan amount, the SBA guaranteed $64,600. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 20 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $76,000. How would you spend $76,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Banks in Smithfield, North Carolina
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