Financing for Full-Service Restaurants

Looking for loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $132,000 full-service restaurants loan was issued by an Iowa bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mcgregor, Iowa was able to borrow $132,000 from Central State Bank. The SBA made the loan possible by guaranteeing $112,200 of this Iowa small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MCGREGOR, IA 52157

SBA Loan Lender

CENTRAL STATE BANK
102 N MAIN ST
ELKADER, IA 52043

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/10/2003

Loan Approval Gross Amount

$132,000

Loan Approval from the SBA

Of the total $132,000 loan amount, the SBA guaranteed $112,200.

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 4 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Mcgregor 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.

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