Getting an SBA Loan for Full-Service Restaurants

Looking for SBA loans for full-service restaurants? The SBA may be the answer. This $194,900 full-service restaurants loan was issued by a Missouri bank.

Getting a small business loan in Joplin, Missouri was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Liberty Bank, operating out of Springfield, Missouri. Here are the details on this Missouri small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Joplin, MO 64801

SBA Loan Lender

LIBERTY BANK
1414 E PRIMROSE
SPRINGFIELD, MO 65804

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

7/31/2007

Loan Approval Gross Amount

$194,900

Loan Approval from the SBA

Of the total $194,900 loan amount, the SBA guaranteed $146,175.

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 23 employees. This SBA loan request indicated that the loan would help generate 4 new jobs and retain 23 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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