Loans for Limited-Service Restaurants

With these loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $382,600 was given to an Illinois entrepreneur in 2006.

Getting a small business loan in Belleville, Illinois was important for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Community First Bank, operating out of Fairview Heights, Illinois. Here are the details on this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BELLEVILLE, IL 62221

SBA Loan Lender

COMMUNITY FIRST BANK
4600 N ILLINOIS ST
FAIRVIEW HEIGHTS, IL 62208

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/12/2006

Loan Approval Gross Amount

$382,600

Loan Approval from the SBA

Of the total $382,600 loan amount, the SBA guaranteed $286,950.

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 5 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $382,600. How would you spend $382,600 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Realistic Debt Financing Options

Small Business Banks in Fairview Heights, Illinois

Getting an SBA Loan in Illinois