Loans for Limited-Service Restaurants

Looking for loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $30,000 limited-service restaurants loan was issued by a South Carolina bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Business Devel Corp - So. Caro, out of Columbia, South Carolina. The loan was granted and they received $30,000 to help grow their Simpsonville, South Carolina business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SIMPSONVILLE, SC 29681

SBA Loan Lender

BUSINESS DEVEL CORP - SO. CARO
111 EXEC CENTER DR, STE 225
COLUMBIA, SC 29221

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/23/2001

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $25,500.

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 only one employee. This SBA loan request indicated that the borrowed money would help create 3 new jobs.

Next Steps for Getting an SBA Loan

If you need business start up money in Simpsonville SC, you ought to talk with a local Simpsonville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Simpsonville businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Obtaining Funding - How to Borrow Money

SBA 7A Banks in Columbia, South Carolina

Getting an SBA Loan in South Carolina