Loans for Full-Service Restaurants

Looking for loans for full-service restaurants? The SBA may be the answer. This $393,000 full-service restaurants loan was issued by an Indiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Carmel, Indiana was able to borrow $393,000 from Irwin Union Bank & Trust. The SBA made the loan possible by guaranteeing $294,750 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CARMEL, IN 46032

SBA Loan Lender

IRWIN UNION BANK & TRUST
10080 E US 36, STE C
AVON, IN 46168

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 debt financing 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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/29/2001

Loan Approval Gross Amount

$393,000

Loan Approval from the SBA

Of the total $393,000 loan amount, the SBA guaranteed $294,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 employees. The loan application did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

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

If you need money to start business in Carmel IN, you ought to talk with a local Carmel SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Carmel businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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

Find an SBA Lender in Avon, Indiana

SBA Indiana Banks