Getting an SBA Loan for Full-Service Restaurants

Looking for business loans for full-service restaurants? The SBA may be the answer. This $19,200 full-service restaurants loan was issued by an Iowa bank.

Getting a small business loan in Garwin, Iowa was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Lincoln Savings Bank, operating out of Garwin, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
GARWIN, IA 50632

SBA Loan Lender

LINCOLN SAVINGS BANK
230 MAIN ST
GARWIN, IA 50632

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

3/27/2001

Loan Approval Gross Amount

$19,200

Loan Approval from the SBA

Of the total $19,200 loan amount, the SBA guaranteed $16,320.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business 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 provide money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Garwin or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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 Participating Banks in Garwin, Iowa

Find an SBA Lender in Iowa