Boone Bank & Trust Co. Provides SBA Loan to Buy Golden Corral restaurant Franchise

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.

An entrepreneur in Boone, Iowa needed money to invest in a Golden Corral restaurant franchise back in 2000. Boone Bank & Trust Co. issued an SBA franchise loan. Here are the details on this Iowa small business loan.

SBA Loan Borrower

GOLDEN CORRAL
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 was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/23/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

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 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, fight for what you want, and it will be yours!

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

SBIR Funding

SBA 7A Banks in Boone, Iowa

SBA Lenders in Iowa