Full-Service Restaurants Bank Loans

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 $19,500 was given to an Alabama entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in Fort Payne, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Federal Bank, based in Fort Payne, Alabama.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
FORT PAYNE, AL 35967

SBA Loan Lender

FIRST FEDERAL BANK
1400 GAULT AVE NORTH
FORT PAYNE, AL 35967

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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/15/2000

Loan Approval Gross Amount

$19,500

Loan Approval from the SBA

Of the total $19,500 loan amount, the SBA guaranteed $15,600.

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 5 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Small Business Banks in Fort Payne, Alabama

Alabama SBA Banks