How to Get a Loan for Limited-Service Restaurants

With these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $37,500 was given to an Alaska entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Soldtna, Alaska, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First National Bank Alaska, based in Soldotna, Alaska.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SOLDTNA, AK 99669

SBA Loan Lender

FIRST NATIONAL BANK ALASKA
44501 STERLING HWY
SOLDOTNA, AK 99669

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

4/16/2003

Loan Approval Gross Amount

$37,500

Loan Approval from the SBA

Of the total $37,500 loan amount, the SBA guaranteed $31,875.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

This SBA loan was for $37,500. How would you spend $37,500 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Determining Proper Capital Structure for a Business

Who Lends Money to Small Businesses in Soldotna, Alaska

Alaska SBA 7A Lenders