Financing for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $105,500 limited-service restaurants loan was issued by an Iowa bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First Central State Bank, out of De Witt, Iowa. The loan was granted and they received $105,500 to help grow their Davenport, Iowa business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
DAVENPORT, IA 52803

SBA Loan Lender

FIRST CENTRAL STATE BANK
914 6TH AVE
DE WITT, IA 52742

This lender issued this particular business 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

722211 - Limited-Service Restaurants

Loan Approval Date

3/12/2002

Loan Approval Gross Amount

$105,500

Loan Approval from the SBA

Of the total $105,500 loan amount, the SBA guaranteed $89,675.

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 17 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Davenport IA, you ought to talk with a local Davenport SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Davenport businesses.

We can help you find the best banks for small businesses in Davenport or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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