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November 15, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Sioux Center, Business Loans > American State Bank Sioux Center Business Loans > Eating Places Loan | ||||
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SBA Lenders in Iowa
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Getting an SBA Loan for Full-Service RestaurantsLooking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $195,500 full-service restaurants loan was issued by an Iowa bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sioux Center, Iowa was able to borrow $195,500 from American State Bank. The SBA made the loan possible by guaranteeing $146,625 of this Iowa small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender AMERICAN STATE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program. 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 2/14/2000 Loan Approval Gross Amount $195,500 Loan Approval from the SBA Of the total $195,500 loan amount, the SBA guaranteed $146,625. 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 30 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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 American State Bank 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. Related Links: Obtaining Funding - How to Decide How Much to Raise Small Bank Loans in Sioux Center, Iowa
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