Where to Get Capital for Limited-Service Restaurants
Looking for small business loans for limited-service restaurants? The SBA may be the answer. This $90,000 limited-service restaurants loan was issued by a Nebraska bank.
This small firm knew how to go about getting a business bank loan. Based in Lincoln, Nebraska, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Cornhusker Bank, based in Lincoln, Nebraska.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LINCOLN, NE 68503
SBA Loan Lender
CORNHUSKER BANK
1101 CORNHUSKER HWY
LINCOLN, NE 68521
This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
4/2/2004
Loan Approval Gross Amount
$90,000
Loan Approval from the SBA
Of the total $90,000 loan amount, the SBA guaranteed $76,500.
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 12 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
Every year, the SBA guarantees over $10 billion for loans just like this one.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Understanding Dilution
Find an SBA Lender in Lincoln, Nebraska
Nebraska SBA 7A Banks