Financing for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? Talk to a banker who works with the SBA. This $107,000 limited-service restaurants loan was issued by a Montana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sandpoint, Idaho was able to borrow $107,000 from Community Bank, Inc.. The SBA made the loan possible by guaranteeing $90,950 of this Idaho small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SANDPOINT, ID 83864

SBA Loan Lender

COMMUNITY BANK, INC.
63239 US HWY 93
RONAN, MT 59864

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

722211 - Limited-Service Restaurants

Loan Approval Date

1/27/2005

Loan Approval Gross Amount

$107,000

Loan Approval from the SBA

Of the total $107,000 loan amount, the SBA guaranteed $90,950.

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 12 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

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

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

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

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