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November 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Dubuque, Business Loans > Dutrac Community Cu Dubuque Business Loans > Full-Service Restaurants Loan | ||||
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Dutrac Community Cu SBA 7A Loans
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Get an SBA Loan for Full-Service RestaurantsWith these bank loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $88,000 was given to an Iowa entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bellevue, Iowa was able to borrow $88,000 from Dutrac Community Cu. The SBA made the loan possible by guaranteeing $74,800 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender DUTRAC COMMUNITY CU This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 2/18/2005 Loan Approval Gross Amount $88,000 Loan Approval from the SBA Of the total $88,000 loan amount, the SBA guaranteed $74,800. 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 6 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Dutrac Community Cu and they will explain how you can get an SBA loan for your company. 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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