Where to Get Capital for Full-Service Restaurants

Looking for SBA loans for full-service restaurants? Try the SBA. This $20,000 full-service restaurants loan was issued by an Indiana bank.

Getting a small business loan in Greencastle, Indiana was important for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from North Salem State Bank, operating out of North Salem, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GREENCASTLE, IN 46135

SBA Loan Lender

NORTH SALEM STATE BANK
7 N BROADWAY ST
NORTH SALEM, IN 46165

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/28/2006

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $10,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 23 employees. The SBA loan documents indicated that the loan would help generate 23 new jobs and retain 23 existing jobs.

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

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into North Salem State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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.

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