How to Get a Loan for Full-Service Restaurants

Looking for SBA loans for full-service restaurants? The SBA may be the answer. This $122,400 full-service restaurants loan was issued by an Iowa bank.

Getting a small business loan in Iowa City, Iowa was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Hills Bank And Trust Company, operating out of Hills, Iowa. Here are the details on this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
IOWA CITY, IA 52240

SBA Loan Lender

HILLS BANK AND TRUST COMPANY
131 MAIN
HILLS, IA 52235

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/22/2005

Loan Approval Gross Amount

$122,400

Loan Approval from the SBA

Of the total $122,400 loan amount, the SBA guaranteed $104,040.

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 6 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Hills Bank And Trust Company so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Advice on Getting a Small Business Loan

Find an SBA Lender in Hills, Iowa

Iowa SBA 7A Lenders