Small Business Loans for Limited-Service Restaurants

With these small business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $788,000 was given to a Montana entrepreneur in 2000.

This small firm knew how to go about getting a business bank loan. Based in West Yellowstone, Montana, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Security Bank, based in West Yellowstone, Montana.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
WEST YELLOWSTONE, MT 59758

SBA Loan Lender

FIRST SECURITY BANK
106 S ELECTRIC
WEST YELLOWSTONE, MT 59758

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/22/2000

Loan Approval Gross Amount

$788,000

Loan Approval from the SBA

Of the total $788,000 loan amount, the SBA guaranteed $591,000.

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 13 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Security Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Security Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Role of Business Plan When Raising Money

Find an SBA Lender in West Yellowstone, Montana

Getting a Business Loan in Montana