Getting an SBA Loan for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $100,000 full-service restaurants loan was issued by an Idaho bank.

This business knew how to go about getting a business bank loan. Based in Murtaugh, Idaho, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Magic Valley Bank A Division -, based in Twin Falls, Idaho.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MURTAUGH, ID 83344

SBA Loan Lender

MAGIC VALLEY BANK A DIVISION -
113 MAIN AVE WEST
TWIN FALLS, ID 83301

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/5/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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