Borrowing Money for Full-Service Restaurants

Looking for small business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $788,000 full-service restaurants loan was issued by an Iowa bank.

This small firm knew how to go about getting a business bank loan. Based in Iowa City, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Iowa St. Bank & Trust, based in Iowa City, Iowa.

SBA Loan Borrower

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

SBA Loan Lender

IOWA ST. BANK & TRUST
102 S CLINTON ST
IOWA CITY, IA 52240

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/21/2006

Loan Approval Gross Amount

$788,000

Loan Approval from the SBA

Of the total $788,000 loan amount, the SBA guaranteed $591,000.

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 16 employees. The SBA loan documents indicated that the loan would help retain 16 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Iowa City IA, you ought to talk with a local Iowa City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Iowa City businesses.

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 $788,000 loan. Remember, you control your own destiny.

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:

How to Raise Money

SBA Approved Banks in Iowa City, Iowa

Getting an SBA Loan in Iowa