Borrowing Money for Full-Service Restaurants

Looking for loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $259,500 full-service restaurants loan was issued by a Kentucky bank.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with South Cent. Bank - Monroe Cnty, out of Tompkinsville, Kentucky. The loan was granted and they received $259,500 to help grow their Glasgow, Kentucky business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GLASGOW, KY 42141

SBA Loan Lender

SOUTH CENT. BANK - MONROE CNTY
320 N MAIN ST
TOMPKINSVILLE, KY 42167

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/15/2005

Loan Approval Gross Amount

$259,500

Loan Approval from the SBA

Of the total $259,500 loan amount, the SBA guaranteed $194,625.

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 15 employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This SBA loan was for $259,500. How would you spend $259,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Business Incubators

Banks in Tompkinsville, Kentucky

Kentucky SBA 7A Lenders