Full-Service Restaurants Small Business Loans
Looking for small business loans for full-service restaurants? Talk to a banker who works with the SBA. This $30,000 full-service restaurants loan was issued by an Utah bank.
Getting a small business loan in Roy, Utah was important for this growing firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Barnes Banking Company, operating out of Kaysville, Utah. Here are the details on this Utah small business loan.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
ROY, UT 84067
SBA Loan Lender
BARNES BANKING COMPANY
33 S MAIN ST
KAYSVILLE, UT 84037
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.
SIC Code
5812 - Eating Places
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
6/22/2000
Loan Approval Gross Amount
$30,000
Loan Approval from the SBA
Of the total $30,000 loan amount, the SBA guaranteed $24,000.
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 8 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
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.
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Barnes Banking Company had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Barnes Banking Company 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:
Alternative Financing
Good Banks for Small Business in Kaysville, Utah
Utah SBA Banks