Raising Money for Full-Service Restaurants

Looking for bank loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $1,394,000 full-service restaurants loan was issued by a Missouri bank.

Getting a small business loan in Joplin, Missouri was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Hometown Bank, operating out of Carthage, Missouri. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
JOPLIN, MO 64801

SBA Loan Lender

HOMETOWN BANK
312 W CENTRAL
CARTHAGE, MO 64836

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/7/2005

Loan Approval Gross Amount

$1,394,000

Loan Approval from the SBA

Of the total $1,394,000 loan amount, the SBA guaranteed $1,045,500.

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 26 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hometown Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hometown 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.

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