Full-Service Restaurants SBA Loans

Looking for SBA loans for full-service restaurants? Try the SBA. This $150,000 full-service restaurants loan was issued by a Montana bank.

This business knew how to go about getting a business bank loan. Based in Fairfield, Montana, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was First National Bank - Fairfield, based in Fairfield, Montana.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FAIRFIELD, MT 59436

SBA Loan Lender

FIRST NATIONAL BANK - FAIRFIELD
321 CENTRAL AVE
FAIRFIELD, MT 59436

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/17/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 13 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

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

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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

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SBA Approved Banks in Fairfield, Montana

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