How to Get a Loan for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $44,000 was given to an Iowa entrepreneur in 2004.

This small business knew how to go about getting a business bank loan. Based in Carnarvon, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Westside State Bank, based in Westside, Iowa.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CARNARVON, IA 54150

SBA Loan Lender

WESTSIDE STATE BANK
401 FIRST ST
WESTSIDE, IA 51467

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/3/2004

Loan Approval Gross Amount

$44,000

Loan Approval from the SBA

Of the total $44,000 loan amount, the SBA guaranteed $37,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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