SBA Loan from First National Bank Helps Eating Places Company

First National Bank has a track record as a leading provider of SBA loans. Find out how this Wyoming entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lingle, Wyoming was able to borrow $26,300 from First National Bank. The SBA made the loan possible by guaranteeing $21,040 of this Wyoming small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
LINGLE, WY 82223

SBA Loan Lender

FIRST NATIONAL BANK
3RD & MAIN ST
LINGLE, WY 82223

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

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

10/19/2000

Loan Approval Gross Amount

$26,300

Loan Approval from the SBA

Of the total $26,300 loan amount, the SBA guaranteed $21,040.

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 4 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First National Bank 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:

Understanding Dilution

Where to Get an SBA Loan in Lingle, Wyoming

SBA Participating Banks in Wyoming