Raising Money for Limited-Service Restaurants

Looking for business loans for limited-service restaurants? Talk to a banker who works with the SBA. This $76,000 limited-service restaurants loan was issued by a South Dakota bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Pioneer Bank & Trust, out of Belle Fourche, South Dakota. The loan was granted and they received $76,000 to help grow their Ludlow, South Dakota business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LUDLOW, SD 57755

SBA Loan Lender

PIONEER BANK & TRUST
700 STATE ST
BELLE FOURCHE, SD 57717

This lender issued this particular commercial loan 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

7/6/2004

Loan Approval Gross Amount

$76,000

Loan Approval from the SBA

Of the total $76,000 loan amount, the SBA guaranteed $64,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 13 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $76,000 loan. Remember, you control your own destiny.

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:

The Art of Bootstrapping

Best Banks for Small Business in Belle Fourche, South Dakota

South Dakota SBA Bank Lenders