Get an SBA Loan for Full-Service Restaurants

With these bank loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $53,300 was given to an Iowa entrepreneur in 2003.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Community St. Bank, out of Altoona, Iowa. The loan was granted and they received $53,300 to help grow their Des Moines, Iowa business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
DES MOINES, IA 50313

SBA Loan Lender

COMMUNITY ST. BANK
200 8TH ST SE
ALTOONA, IA 50009

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

722110 - Full-Service Restaurants

Loan Approval Date

10/7/2003

Loan Approval Gross Amount

$53,300

Loan Approval from the SBA

Of the total $53,300 loan amount, the SBA guaranteed $45,305.

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 8 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community St. Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community St. Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Choosing VC Firms

SBA 7A Banks for Altoona, Iowa Loans

Iowa SBA Banks