Salem, IL Entrepreneur Gets SBA Loan to Buy Denny's Restaurant Franchise

Need money to buy a Denny's Restaurant franchise? Peoples National Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Salem, Illinois needed money to invest in a Denny's Restaurant franchise back in 2001. Peoples National Bank issued an SBA franchise loan. Here are the details on this Illinois small business loan.

SBA Loan Borrower

DENNY'S
SALEM, IL 62881

SBA Loan Lender

PEOPLES NATIONAL BANK
102 CROSSCREEK BLVD
SALEM, IL 62881

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/12/2001

Loan Approval Gross Amount

$1,008,475

Loan Approval from the SBA

Of the total $1,008,475 loan amount, the SBA guaranteed $756,356.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Denny's Restaurant franchise. At the time of the loan, the company had 92 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,008,475 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Denny's Inc.

The Art of Bootstrapping

SBA Banks in Salem, Illinois

Getting an SBA Loan in Illinois