Financing for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? Talk to a banker who works with the SBA. This $21,000 limited-service restaurants loan was issued by a North Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hettinger, North Dakota was able to borrow $21,000 from Dacotah Bank. The SBA made the loan possible by guaranteeing $17,850 of this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HETTINGER, ND 58639

SBA Loan Lender

DACOTAH BANK
121 N MAIN ST
HETTINGER, ND 58639

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/19/2006

Loan Approval Gross Amount

$21,000

Loan Approval from the SBA

Of the total $21,000 loan amount, the SBA guaranteed $17,850.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $21,000 loan. Remember, if it to be, it is up to me!

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:

Dealing With Venture Capitalists

SBA 7A Lenders in Hettinger, North Dakota

Getting a Business Loan in North Dakota