Business Loans for Limited-Service Restaurants

Looking for business loans for limited-service restaurants? The SBA may be the answer. This $85,400 limited-service restaurants loan was issued by an Alaska bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Wells Fargo Bank, out of Soldotna, Alaska. The loan was granted and they received $85,400 to help grow their Kasilof, Alaska business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
KASILOF, AK 99610

SBA Loan Lender

WELLS FARGO BANK
44552 STERLING HWY
SOLDOTNA, AK 99669

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/13/2003

Loan Approval Gross Amount

$85,400

Loan Approval from the SBA

Of the total $85,400 loan amount, the SBA guaranteed $72,590.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 14 employees. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wells Fargo Bank and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - How to Borrow Money

Best Banks for Small Business in Soldotna, Alaska

Getting a Business Loan in Alaska