SBA Loans for Limited-Service Restaurants

Looking for SBA loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $220,000 limited-service restaurants loan was issued by an Iowa bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Liberty Bank, Fsb, out of Coralville, Iowa. The loan was granted and they received $220,000 to help grow their Ankeny, Iowa business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
ANKENY, IA 50023

SBA Loan Lender

LIBERTY BANK, FSB
119 2ND ST, STE 100
CORALVILLE, IA 52241

This lender issued this SBA business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/21/2006

Loan Approval Gross Amount

$220,000

Loan Approval from the SBA

Of the total $220,000 loan amount, the SBA guaranteed $165,000.

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 2 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $220,000 loan. Remember, you control your own destiny.

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:

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Coralville, Iowa

Iowa SBA Banks