Commercial Loans for Limited-Service Restaurants

With these commercial loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $55,000 was given to a Wisconsin entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Marshfield, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was State Bank Financial, based in La Crosse, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MARSHFIELD, WI 54449

SBA Loan Lender

STATE BANK FINANCIAL
401 MAIN ST
LA CROSSE, WI 54601

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/30/2007

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $27,500.

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 no employees. The loan application indicated that the loan would help create 5 new jobs.

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

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. State Bank Financial had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, State Bank Financial 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:

Accountant's Role in Securing Financing

SBA 7A Banks in La Crosse, Wisconsin

SBA Wisconsin Lenders