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May 16, 2024 |
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| Home > Small Business Lenders by State > Iowa Business Loan Sources > Toledo, Business Loans > The State Bank Of Toledo Toledo Business Loans > Eating Places Loan | ||||
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The State Bank Of Toledo SBA 7A Loans
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Where to Get Capital for Full-Service RestaurantsWith these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $71,250 was given to an Iowa entrepreneur in 2000. This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with The State Bank Of Toledo, out of Toledo, Iowa. The loan was granted and they received $71,250 to help grow their Toledo, Iowa business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender THE STATE BANK OF TOLEDO This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. 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 3/9/2000 Loan Approval Gross Amount $71,250 Loan Approval from the SBA Of the total $71,250 loan amount, the SBA guaranteed $57,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 17 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $71,250 loan. Remember, things become real when you believe you can achieve them! 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: Borrowing Money from Friends and Family
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