Full-Service Restaurants Loans

Looking for loans for full-service restaurants? The SBA may be the answer. This $73,000 full-service restaurants loan was issued by an Illinois bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sycamore, Illinois was able to borrow $73,000 from National Bank & Trust - Sycamore. The SBA made the loan possible by guaranteeing $62,050 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SYCAMORE, IL 60178

SBA Loan Lender

NATIONAL BANK & TRUST - SYCAMORE
230 W STATE ST
SYCAMORE, IL 60178

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/13/2004

Loan Approval Gross Amount

$73,000

Loan Approval from the SBA

Of the total $73,000 loan amount, the SBA guaranteed $62,050.

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 24 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding.

While you may be able to find business people willing to loan money, 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:

Equity Financing

Good Banks for Small Business in Sycamore, Illinois

SBA Lenders in Illinois