Business Loans for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $32,000 was given to a Kentucky entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lexington, Kentucky was able to borrow $32,000 from Community Trust Bank, Inc.. The SBA made the loan possible by guaranteeing $27,200 of this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LEXINGTON, KY 40511

SBA Loan Lender

COMMUNITY TRUST BANK, INC.
346 N MAYO TRL
PIKEVILLE, KY 41501

This SBA small business 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.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/22/2007

Loan Approval Gross Amount

$32,000

Loan Approval from the SBA

Of the total $32,000 loan amount, the SBA guaranteed $27,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 3 existing jobs.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Community Trust Bank, Inc. that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Alternative Financing

SBA Participating Banks in Pikeville, Kentucky

SBA Participating Banks in Kentucky