Loans for Limited-Service Restaurants

Looking for loans for limited-service restaurants? Talk to a banker who works with the SBA. This $243,089 limited-service restaurants loan was issued by an Arkansas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Little Rock, Arkansas was able to borrow $243,089 from Pulaski Bank & Trust Company. The SBA made the loan possible by guaranteeing $182,317 of this Arkansas small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LITTLE ROCK, AR 72207

SBA Loan Lender

PULASKI BANK & TRUST COMPANY
5800 'R' ST
LITTLE ROCK, AR 72207

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/31/2002

Loan Approval Gross Amount

$243,089

Loan Approval from the SBA

Of the total $243,089 loan amount, the SBA guaranteed $182,317.

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 18 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pulaski Bank & Trust Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pulaski Bank & Trust Company made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Borrowing Money from Friends and Family

SBA 7A Banks in Little Rock, Arkansas

Arkansas SBA 7A Lenders