St. Joseph, MO Entrepreneur Gets SBA Loan to Buy Ground Round Restaurants Franchise

Need money to buy a Ground Round Restaurants franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Ground Round Restaurants franchise may simply require a phone call to a local SBA banker. In 2006, U.S. Bank National Association issued an SBA franchise loan to an entrepreneur in St. Joseph, Missouri. Because Ground Round Restaurants was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis.

SBA Loan Borrower

GROUND ROUND
ST. JOSEPH, MO 64506

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
9918 HIBERT ST, STE 100
SAN DIEGO, CA 92131

This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

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

9/1/2006

Loan Approval Gross Amount

$510,000

Loan Approval from the SBA

Of the total $510,000 loan amount, the SBA guaranteed $382,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ground Round Restaurants franchise. At the time of the loan, the company had 50 employees. The loan application did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like U.S. Bank National Association that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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