 |
 |
December 23, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Iowa Business Loan Sources > Clear Lake, Business Loans > Manufacturers Bank & Trust Clear Lake Business Loans > Eating Places Loan | ||||
 |
||||
Clear Lake, Iowa Bank for SBA Loans
|
||||
 |
Full-Service Restaurants Bank LoansLooking for bank loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $112,000 full-service restaurants loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Clear Lake, Iowa was able to borrow $112,000 from Manufacturers Bank & Trust. The SBA made the loan possible by guaranteeing $84,000 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender MANUFACTURERS BANK & TRUST This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. 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 6/23/2000 Loan Approval Gross Amount $112,000 Loan Approval from the SBA Of the total $112,000 loan amount, the SBA guaranteed $84,000. 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 13 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Manufacturers Bank & Trust and they will explain how you can get an SBA loan for your company. 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: Obtaining Funding From a Venture Capitalist
|
|
||
|
||||
|
|
||||