Full-Service Restaurants Bank Loans

Looking for bank loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $362,000 full-service restaurants loan was issued by an Illinois bank.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Amcore Bank, out of Rockford, Illinois. The loan was granted and they received $362,000 to help grow their Madison, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MADISON, WI 53703

SBA Loan Lender

AMCORE BANK
501 SEVENTH ST
ROCKFORD, IL 61104

This 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

7/8/2005

Loan Approval Gross Amount

$362,000

Loan Approval from the SBA

Of the total $362,000 loan amount, the SBA guaranteed $271,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 30 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 36 existing jobs.

Next Steps for Getting an SBA Loan

Don't forget. To get an SBA loan, you must 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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Amcore Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Getting a Small Business Loan

Who Lends Money to Small Businesses in Rockford, Illinois

SBA Lenders in Illinois