Raising Money for Full-Service Restaurants

Looking for bank loans for full-service restaurants? Talk to a banker who works with the SBA. This $536,500 full-service restaurants loan was issued by a South Dakota bank.

This small firm knew how to go about getting a business bank loan. Based in Hill City, South Dakota, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was First Western Bank, based in Custer, South Dakota.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
HILL CITY, SD 57745

SBA Loan Lender

FIRST WESTERN BANK
648 MT RUSHMORE RD
CUSTER, SD 57730

This SBA loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/13/2007

Loan Approval Gross Amount

$536,500

Loan Approval from the SBA

Of the total $536,500 loan amount, the SBA guaranteed $402,375.

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 12 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Western Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Western Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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Find an SBA Lender in Custer, South Dakota

South Dakota SBA Banks