Raising Money for Full-Service Restaurants

Looking for business loans for full-service restaurants? Talk to a banker who works with the SBA. This $841,000 full-service restaurants loan was issued by a Missouri bank.

This small business knew how to go about getting a business bank loan. Based in Rogers, Arkansas, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Arvest Bank, based in Joplin, Missouri.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ROGERS, AR 72758

SBA Loan Lender

ARVEST BANK
701 S MAIN ST
JOPLIN, MO 64801

This lender issued this commercial loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

10/19/2007

Loan Approval Gross Amount

$841,000

Loan Approval from the SBA

Of the total $841,000 loan amount, the SBA guaranteed $630,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 80 employees. The SBA loan documents indicated that the loan would help generate 55 new jobs and retain 25 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Angel Investors

SBA Participating Banks in Joplin, Missouri

Getting an SBA Loan in Missouri