Full-Service Restaurants Small Business Loans

Looking for small business loans for full-service restaurants? Talk to a banker who works with the SBA. This $145,000 full-service restaurants loan was issued by an Illinois bank.

This small firm knew how to go about getting a business bank loan. Based in St. Louis, Missouri, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Peoples National Bank, based in Mcleansboro, Illinois.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ST. LOUIS, MO 63122

SBA Loan Lender

PEOPLES NATIONAL BANK
108 S WASHINGTON
MCLEANSBORO, IL 62859

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/4/2007

Loan Approval Gross Amount

$145,000

Loan Approval from the SBA

Of the total $145,000 loan amount, the SBA guaranteed $72,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 50 employees. This SBA loan request indicated that the loan would help retain 50 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Peoples National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Angel Investors

Banks in Mcleansboro, Illinois

SBA Lenders in Illinois