Where to Get Capital for Full-Service Restaurants

Looking for SBA loans for full-service restaurants? Try the SBA. This $49,500 full-service restaurants loan was issued by a Wisconsin bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hartford, Wisconsin was able to borrow $49,500 from First Bank Financial Centre. The SBA made the loan possible by guaranteeing $42,075 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HARTFORD, WI 53027

SBA Loan Lender

FIRST BANK FINANCIAL CENTRE
940 BELL AVE
HARTFORD, WI 53029

This lender issued this particular SBA small 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

6/26/2001

Loan Approval Gross Amount

$49,500

Loan Approval from the SBA

Of the total $49,500 loan amount, the SBA guaranteed $42,075.

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 10 employees. The loan application did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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