Raising Money for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $655,600 limited-service restaurants loan was issued by an Illinois bank.

This company knew how to go about getting a business bank loan. Based in Springfield, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was National City Bank, based in Bannockburn, Illinois.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SPRINGFIELD, IL 62702

SBA Loan Lender

NATIONAL CITY BANK
2595 WAUKEGAN RD
BANNOCKBURN, IL 60015

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/7/2006

Loan Approval Gross Amount

$655,600

Loan Approval from the SBA

Of the total $655,600 loan amount, the SBA guaranteed $491,700.

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 44 employees. This SBA loan request indicated that the loan would help retain 44 existing jobs.

Next Steps for Getting an SBA Loan

If you have been wondering how do i get money to start a business in Springfield IL, you ought to talk with a local Springfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Springfield businesses.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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 - Getting Venture Capital

SBA 7A Banks in Bannockburn, Illinois

Getting an SBA Loan in Illinois