Business Loans 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 $72,000 was given to a Missouri entrepreneur in 2001.
This small business knew how to go about getting a business bank loan. Based in Springfield, Missouri, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Liberty Bank, based in Springfield, Missouri.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
SPRINGFIELD, MO 65804
SBA Loan Lender
LIBERTY BANK
1414 E PRIMROSE
SPRINGFIELD, MO 65804
This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5812 - Eating Places
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
12/6/2001
Loan Approval Gross Amount
$72,000
Loan Approval from the SBA
Of the total $72,000 loan amount, the SBA guaranteed $61,200.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 6 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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
Find an SBA Lender in Springfield, Missouri
SBA Lenders in Missouri