Full-Service Restaurants Loans

Looking for loans for full-service restaurants? Try the SBA. This $202,000 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 $202,000 from Clear Lake Bank & Trust. The SBA made the loan possible by guaranteeing $101,000 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CLEAR LAKE, IA 50428

SBA Loan Lender

CLEAR LAKE BANK & TRUST
322 MAIN AVE
CLEAR LAKE, IA 50428

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/3/2007

Loan Approval Gross Amount

$202,000

Loan Approval from the SBA

Of the total $202,000 loan amount, the SBA guaranteed $101,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 10 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Clear Lake IA, you ought to talk with a local Clear Lake SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Clear Lake businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 - Friends and Family

Good Banks for Small Business in Clear Lake, Iowa

SBA Iowa Lenders