Raising Money for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? The SBA may be the answer. This $170,000 limited-service restaurants loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in Jacksonville, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Illinois National Bank, based in Springfield, Illinois.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
JACKSONVILLE, IL 62650

SBA Loan Lender

ILLINOIS NATIONAL BANK
322 E CAPITOL AVE
SPRINGFIELD, IL 62701

At the time this loan was granted, this lending institution was part of the SBA's Certified Lenders Program (CLP). This program was created to give speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

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

6/20/2001

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Jacksonville IL, you ought to talk with a local Jacksonville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jacksonville 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 $170,000 loan. Remember, fight for what you want, and it will be yours!

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:

Investor Turnoffs

SBA Banks in Springfield, Illinois

Getting an SBA Loan in Illinois