Getting an SBA 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 $96,000 was given to a Wisconsin entrepreneur in 2005.

This business knew how to go about getting a business bank loan. Based in Colfax, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Royal Cu, based in Eau Claire, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
COLFAX, WI 54730

SBA Loan Lender

ROYAL CU
200 RIVERFRONT TER
EAU CLAIRE, WI 54703

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7011 - Hotels and Motels

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/21/2005

Loan Approval Gross Amount

$96,000

Loan Approval from the SBA

Of the total $96,000 loan amount, the SBA guaranteed $81,600.

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 5 employees. This SBA loan request did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

While you may be able to borrow money from friends and family, 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:

A Company That Helps Entrepreneurs

SBA 7A Lenders in Eau Claire, Wisconsin

SBA Wisconsin Lenders