Financing for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? Try the SBA. This $51,400 limited-service restaurants loan was issued by an Arizona bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Springerville, Arizona was able to borrow $51,400 from Great Western Bank. The SBA made the loan possible by guaranteeing $43,690 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SPRINGERVILLE, AZ 85938

SBA Loan Lender

GREAT WESTERN BANK
1300 E FLORENCE BLVD
CASA GRANDE, AZ 85222

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

2/25/2004

Loan Approval Gross Amount

$51,400

Loan Approval from the SBA

Of the total $51,400 loan amount, the SBA guaranteed $43,690.

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 9 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Springerville AZ, you ought to talk with a local Springerville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Springerville businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Small Business Loan

SBA 7A Banks in Casa Grande, Arizona

Getting a Business Loan in Arizona