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November 15, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Casey, Business Loans > Preferred Bank Casey Business Loans > Eating Places Loan | ||||
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Good Banks for Carlisle Entrepreneurs
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Full-Service Restaurants SBA LoansLooking for SBA loans for full-service restaurants? Try the SBA. This $126,400 full-service restaurants loan was issued by an Illinois bank. This business knew how to go about getting a business bank loan. Based in Carlisle, Indiana, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Preferred Bank, based in Casey, Illinois. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender PREFERRED BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 11/1/2002 Loan Approval Gross Amount $126,400 Loan Approval from the SBA Of the total $126,400 loan amount, the SBA guaranteed $107,440. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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 $126,400 loan. Remember, you control your own destiny. 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: Advice on Getting a Small Business Loan Best Banks for Small Business in Casey, Illinois
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