How to Get a Loan for Limited-Service Restaurants

With these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $51,500 was given to a Kentucky entrepreneur in 2007.

Getting a small business loan in Campton, Kentucky was important for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Whitaker Bank, Inc, operating out of Lexington, Kentucky. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CAMPTON, KY 41301

SBA Loan Lender

WHITAKER BANK, INC
2001 PLEASANT RIDGE DR
LEXINGTON, KY 40509

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/1/2007

Loan Approval Gross Amount

$51,500

Loan Approval from the SBA

Of the total $51,500 loan amount, the SBA guaranteed $25,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Determining Proper Capital Structure for a Business

SBA Approved Banks in Lexington, Kentucky

Browse All Business Loan Sources for Kentucky