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November 24, 2024 |
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| Home > Small Business Lenders by State > Kansas Business Loan Sources > Manhattan, Business Loans > Community First National Bank Manhattan Business Loans > Full-Service Restaurants Loan | ||||
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Manhattan, Kansas Bank Loan
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Get an SBA Loan for Full-Service RestaurantsLooking for loans for full-service restaurants? The SBA may be the answer. This $150,000 full-service restaurants loan was issued by a Kansas bank. This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Community First National Bank, out of Manhattan, Kansas. The loan was granted and they received $150,000 to help grow their Manhattan, Kansas business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender COMMUNITY FIRST NATIONAL BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . 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. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/19/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 24 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees. 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. We can help you find the best banks for small businesses in Manhattan or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Determining Proper Capital Structure for a Business SBA 7A Lenders in Manhattan, Kansas
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