Financing for Limited-Service Restaurants

Looking for loans for limited-service restaurants? The SBA may be the answer. This $18,000 limited-service restaurants loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in Newton, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was 1st National Bank - Dieterich, based in Dieterich, Illinois.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
NEWTON, IL 62448

SBA Loan Lender

1ST NATIONAL BANK - DIETERICH
101 S MAIN ST
DIETERICH, IL 62424

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/28/2005

Loan Approval Gross Amount

$18,000

Loan Approval from the SBA

Of the total $18,000 loan amount, the SBA guaranteed $15,300.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Newton IL, you ought to talk with a local Newton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Newton businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like 1st National Bank - Dieterich are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Microlending as a Small Business Funding Source

Where to Get an SBA Loan in Dieterich, Illinois

SBA Lenders in Illinois