Commercial Loans for Full-Service Restaurants

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $167,000 was given to an Iowa entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Onawa, Iowa, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Liberty National Bank, based in Sioux City, Iowa.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ONAWA, IA 51063

SBA Loan Lender

LIBERTY NATIONAL BANK
4425 SINGING HILLS BLVD
SIOUX CITY, IA 51106

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 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

8/3/2005

Loan Approval Gross Amount

$167,000

Loan Approval from the SBA

Of the total $167,000 loan amount, the SBA guaranteed $125,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

SBIR Funding

Small Bank Loans in Sioux City, Iowa

Iowa SBA 7A Banks