Dubuque, IA Entrepreneur Gets SBA Loan to Buy Joey's Only Franchise

Need money to invest in a Joey's Only franchise? East Dubuque Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Joey's Only franchise may simply require a phone call to a local SBA banker. In 2006, East Dubuque Savings Bank issued an SBA franchise loan to an entrepreneur in Dubuque, Iowa. Because Joey's Only was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis.

SBA Loan Borrower

GRILLE & GILL
DUBUQUE, IA 52001

SBA Loan Lender

EAST DUBUQUE SAVINGS BANK
3999 PENNSYLVANIA AVE
DUBUQUE, IA 52002

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/21/2006

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Joey's Only franchise. At the time of the loan, the company had 75 employees. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. East Dubuque Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, East Dubuque Savings 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:

Joey's Only Seafood Restaurant

SBIR Funding

Small Bank Loans in Dubuque, Iowa

Iowa SBA 7A Lenders