Full-Service Restaurants SBA Loans

Looking for SBA loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $920,000 full-service restaurants loan was issued by a Wisconsin bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sheboygan, Wisconsin was able to borrow $920,000 from Community Bank & Trust. The SBA made the loan possible by guaranteeing $598,000 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: HOTELS AND MOTELS
SHEBOYGAN, WI 53083

SBA Loan Lender

COMMUNITY BANK & TRUST
604 N EIGHTH ST
SHEBOYGAN, WI 53081

This lender issued this SBA small business loan under the SBA's 7A loan, 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.

SIC Code

7011 - Hotels and Motels

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/28/2003

Loan Approval Gross Amount

$920,000

Loan Approval from the SBA

Of the total $920,000 loan amount, the SBA guaranteed $598,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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