Full-Service Restaurants Small Business Loans

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $63,600 was given to a North Dakota entrepreneur in 2003.

This company knew how to go about getting a business bank loan. Based in Oakes, North Dakota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Community Cu, based in Oakes, North Dakota.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
OAKES, ND 58474

SBA Loan Lender

FIRST COMMUNITY CU
103 7TH ST N
OAKES, ND 58474

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/25/2003

Loan Approval Gross Amount

$63,600

Loan Approval from the SBA

Of the total $63,600 loan amount, the SBA guaranteed $54,060.

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 5 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

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

Obtaining Funding From a Venture Capitalist

Where to Get an SBA Loan in Oakes, North Dakota

North Dakota SBA Bank Lenders