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May 14, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Le Mars, Business Loans > Amer Bank Le Mars Business Loans > Eating Places Loan | ||||
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We Needed an SBA 7A Loan in Le Mars, Iowa and We Got One!
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Full-Service Restaurants Small Business LoansLooking for small business loans for full-service restaurants? The SBA may be the answer. This $42,000 full-service restaurants loan was issued by an Iowa bank. This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Amer Bank, out of Le Mars, Iowa. The loan was granted and they received $42,000 to help grow their Le Mars, Iowa business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender AMER BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. 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 3/17/2000 Loan Approval Gross Amount $42,000 Loan Approval from the SBA Of the total $42,000 loan amount, the SBA guaranteed $33,600. 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 22 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide smart, affordable business financing for small businesses looking to expand. We've showcased information on this loan to let you know that businesses like yours 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: Determining Proper Capital Structure for a Business Good Banks for Small Business in Le Mars, Iowa
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