Get an SBA Loan for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $55,000 was given to an Alabama entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rainsville, Alabama was able to borrow $55,000 from First Federal Bank. The SBA made the loan possible by guaranteeing $46,750 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
RAINSVILLE, AL 35986

SBA Loan Lender

FIRST FEDERAL BANK
1400 GAULT AVE NORTH
FORT PAYNE, AL 35967

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

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

3/21/2002

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

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 15 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Federal Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Federal 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.

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The Art of Bootstrapping

Small Business Banks in Fort Payne, Alabama

SBA Alabama Lenders