Financing for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $25,400 was given to a Kentucky entrepreneur in 2002.

Getting a small business loan in Millersburg, Kentucky was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Kentucky Bank, operating out of Cynthiana, Kentucky. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MILLERSBURG, KY 40361

SBA Loan Lender

KENTUCKY BANK
939 US HWY RTE 27 SOUTH
CYNTHIANA, KY 41031

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires 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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/3/2002

Loan Approval Gross Amount

$25,400

Loan Approval from the SBA

Of the total $25,400 loan amount, the SBA guaranteed $21,590.

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. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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