Financing for Full-Service Restaurants
With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $231,000 was given to an Iowa entrepreneur in 2002.
This small business knew how to go about getting a business bank loan. Based in Carlisle, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Great Western Bank, based in Carlisle, Iowa.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
CARLISLE, IA 50047
SBA Loan Lender
GREAT WESTERN BANK
100 FIRST ST
CARLISLE, IA 50047
The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
9/23/2002
Loan Approval Gross Amount
$231,000
Loan Approval from the SBA
Of the total $231,000 loan amount, the SBA guaranteed $173,250.
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 15 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Great Western 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:
Business Credit Evaluation
SBA Participating Banks in Carlisle, Iowa
Iowa SBA 7A Lenders