Full-Service Restaurants Commercial Loans

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $40,000 was given to an Indiana entrepreneur in 2002.

Getting a small business loan in Westville, Indiana was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from 1st Source Bank, operating out of La Porte, Indiana. Here are the details on this Indiana small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WESTVILLE, IN 46391

SBA Loan Lender

1ST SOURCE BANK
1100 BOYD BLVD
LA PORTE, IN 46350

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

7/15/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you have been wondering how do i get money to start a business in Westville IN, you ought to talk with a local Westville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Westville businesses.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from 1st Source Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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