Limited-Service Restaurants Loans
Looking for loans for limited-service restaurants? Talk to a banker who works with the SBA. This $70,000 limited-service restaurants loan was issued by an Indiana bank.
Getting a small business loan in Bloomington, Indiana was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Old National Bank, operating out of Bloomington, Indiana. Here are the details on this Indiana small business loan.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BLOOMINGTON, IN 47408
SBA Loan Lender
OLD NATIONAL BANK
121 E KIRKWOOD AVE
BLOOMINGTON, IN 47408
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
722211 - Limited-Service Restaurants
Loan Approval Date
8/2/2005
Loan Approval Gross Amount
$70,000
Loan Approval from the SBA
Of the total $70,000 loan amount, the SBA guaranteed $59,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 13 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Old National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
The Friends and Family Network
SBA Approved Banks in Bloomington, Indiana
SBA Participating Banks in Indiana