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March 28, 2024  
 
 
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Loan Census SBA Loan Info

Raleigh, NC Entrepreneur Gets SBA Loan to Buy Steak-Out Franchise

Need a loan to buy a Steak-Out franchise? Capital Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Raleigh, North Carolina needed money to invest in a Steak-Out franchise back in 2001. Capital Bank issued an SBA franchise loan. Here are the details on this North Carolina small business loan.

SBA Loan Borrower

STEAK-OUT
RALEIGH, NC 27604

SBA Loan Lender

CAPITAL BANK
333 FAYETTEVILLE ST, STE 102
RALEIGH, NC 27601

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

722110 - Full-Service Restaurants

Loan Approval Date

4/3/2001

Loan Approval Gross Amount

$45,765

Loan Approval from the SBA

Of the total $45,765 loan amount, the SBA guaranteed $38,900.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Steak-Out franchise. At the time of the loan, the company had 30 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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:

Steak-Out Franchising, Inc.

Choosing VC Firms

Small Business Banks in Raleigh, North Carolina

SBA Participating Banks in North Carolina