Small Business Loans for Full-Service Restaurants
Looking for small business loans for full-service restaurants? Talk to a banker who works with the SBA. This $102,500 full-service restaurants loan was issued by an Arkansas bank.
This company knew how to go about getting a business bank loan. Based in Conway, Arkansas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was First State Bank, based in Conway, Arkansas.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
CONWAY, AR 72032
SBA Loan Lender
FIRST STATE BANK
620 CHESTNUT ST
CONWAY, AR 72032
This was a Low Documentation SBA loan. The SBA started 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. Today, you can borrow up to $100,000 through the low-doc SBA program.
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
3/1/2001
Loan Approval Gross Amount
$102,500
Loan Approval from the SBA
Of the total $102,500 loan amount, the SBA guaranteed $87,125.
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 6 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
We've showcased information on this loan to let you know that businesses like yours 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:
Realistic Debt Financing Options
SBA Approved Banks in Conway, Arkansas
SBA Participating Banks in Arkansas