Financing for Full-Service Restaurants
With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $149,900 was given to a Wisconsin entrepreneur in 2003.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Appleton, Wisconsin was able to borrow $149,900 from Kimcentral Cu. The SBA made the loan possible by guaranteeing $127,415 of this Wisconsin small business loan.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
APPLETON, WI 54913
SBA Loan Lender
KIMCENTRAL CU
625 DEERWOOD AVE
NEENAH, WI 54956
This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.
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
1/22/2003
Loan Approval Gross Amount
$149,900
Loan Approval from the SBA
Of the total $149,900 loan amount, the SBA guaranteed $127,415.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 5 employees. The loan application did not indicate that the small business promised to use the funding to increase staffing levels 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.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $149,900 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
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SBA 7A Banks for Neenah, Wisconsin Loans
Find an SBA Lender in Wisconsin