Financing for Full-Service Restaurants

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 $221,000 was given to an Illinois entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Eldorado, Illinois, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was First State Bank, based in Eldorado, Illinois.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ELDORADO, IL 62930

SBA Loan Lender

FIRST STATE BANK
946 FOURTH ST
ELDORADO, IL 62930

This 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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/7/2004

Loan Approval Gross Amount

$221,000

Loan Approval from the SBA

Of the total $221,000 loan amount, the SBA guaranteed $165,750.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 30 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First State Bank and they will explain how you can get an SBA loan for your company.

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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