Bank Loans 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 $425,000 was given to an Indiana entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Elkhart, Indiana was able to borrow $425,000 from Centier Bank. The SBA made the loan possible by guaranteeing $318,750 of this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ELKHART, IN 46514

SBA Loan Lender

CENTIER BANK
1500 119TH ST
WHITING, IN 46394

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/16/2007

Loan Approval Gross Amount

$425,000

Loan Approval from the SBA

Of the total $425,000 loan amount, the SBA guaranteed $318,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 11 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $425,000 loan. Remember, things become real when you believe you can achieve them!

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:

Dealing With Venture Capitalists

SBA 7A Banks in Whiting, Indiana

Indiana SBA Banks