Bank Loans for Full-Service Restaurants

Looking for bank loans for full-service restaurants? The SBA may be the answer. This $150,000 full-service restaurants loan was issued by a Wisconsin bank.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Community First Cu, out of Appleton, Wisconsin. The loan was granted and they received $150,000 to help grow their Appleton, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
APPLETON, WI 54914

SBA Loan Lender

COMMUNITY FIRST CU
2626 S ONEIDA ST
APPLETON, WI 54915

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/25/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 25 employees. The SBA loan application for the borrower did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Appleton WI, you ought to talk with a local Appleton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Appleton 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.

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SBA Banks in Appleton, Wisconsin

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