Financing for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? The SBA may be the answer. This $169,500 full-service restaurants loan was issued by a South Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sisseton, South Dakota was able to borrow $169,500 from Dacotah Bank. The SBA made the loan possible by guaranteeing $127,125 of this South Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SISSETON, SD 57262

SBA Loan Lender

DACOTAH BANK
321 VETERANS AVE EAST
SISSETON, SD 57262

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to American small businesses.

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

7/3/2003

Loan Approval Gross Amount

$169,500

Loan Approval from the SBA

Of the total $169,500 loan amount, the SBA guaranteed $127,125.

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 business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Sisseton SD, you ought to talk with a local Sisseton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sisseton businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $169,500 loan. Remember, where there is a will, there is a way!

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:

Business Credit Evaluation

Good Banks for Small Business in Sisseton, South Dakota

South Dakota SBA 7A Lenders