Newton, IA Entrepreneur Gets SBA Loan to Buy Golden Corral restaurant Franchise

Need money to buy a Golden Corral restaurant franchise? F&m Bank-Iowa has a history of making these loans and they are guaranteed by the SBA.

If you live near Newton, Iowa and are interested in buying a Golden Corral restaurant franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by F&m Bank-Iowa. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GOLDEN CORRAL #293F
NEWTON, IA 50208

SBA Loan Lender

F&M BANK-IOWA
11 N 1ST AVE
MARSHALLTOWN, IA 50158

This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/24/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Golden Corral restaurant franchise. At the time of the loan, the company had 26 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised 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 typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. F&m Bank-Iowa had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, F&m Bank-Iowa 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:

Golden Corral Buffet & Grill

Obtaining Funding - How to Borrow Money

SBA Participating Banks in Marshalltown, Iowa

SBA Lenders in Iowa