Loan to Buy Golden Corral restaurant Franchise Issued By Boone Bank & Trust Co.

Borrowing money to buy a Golden Corral restaurant franchise? Boone Bank & Trust Co. has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Golden Corral restaurant franchise shouldn't be overly burdensome. In 2004, Boone Bank & Trust Co. issued an SBA franchise loan to an entrepreneur in Boone, Iowa. Because Golden Corral restaurant was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis.

SBA Loan Borrower

GOLDEN CORRAL OF BOONE, INC.
BOONE, IA 50036

SBA Loan Lender

BOONE BANK & TRUST CO.
716 8TH ST
BOONE, IA 50036

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan for a small business was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/13/2004

Loan Approval Gross Amount

$605,000

Loan Approval from the SBA

Of the total $605,000 loan amount, the SBA guaranteed $453,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Golden Corral restaurant franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Boone Bank & Trust Co. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Boone Bank & Trust Co. made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Golden Corral Buffet & Grill

Bank Credit Lines

Who Lends Money to Small Businesses in Boone, Iowa

Iowa SBA 7A Lenders