Full-Service Restaurants Loans

Looking for loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $24,200 full-service restaurants loan was issued by a South Dakota bank.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with First Dakota National Bank, out of Yankton, South Dakota. The loan was granted and they received $24,200 to help grow their Mitchell, South Dakota business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MITCHELL, SD 57301

SBA Loan Lender

FIRST DAKOTA NATIONAL BANK
225 CEDAR ST
YANKTON, SD 57078

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/18/2007

Loan Approval Gross Amount

$24,200

Loan Approval from the SBA

Of the total $24,200 loan amount, the SBA guaranteed $20,570.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 28 employees. The loan application indicated that the loan would help retain 28 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Dakota National Bank and they will explain how you can get an SBA loan for your company.

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:

Alternative Financing

SBA 7A Banks for Yankton, South Dakota Loans

South Dakota SBA Banks