Get an SBA Loan for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? Talk to a banker who works with the SBA. This $85,750 limited-service restaurants loan was issued by a Kansas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Broken Arrow, Oklahoma was able to borrow $85,750 from Columbian Finan Corp. The SBA made the loan possible by guaranteeing $72,888 of this Oklahoma small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BROKEN ARROW, OK 74012

SBA Loan Lender

COLUMBIAN FINAN CORP
4701 W 110 ST
OVERLAND PARK, KS 66211

This lender issued this loan for a small business under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began 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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/25/2004

Loan Approval Gross Amount

$85,750

Loan Approval from the SBA

Of the total $85,750 loan amount, the SBA guaranteed $72,888.

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 18 employees. This SBA loan request did not indicate that the company planned to use the money to add employees or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Line of Credit

Small Business Banks in Overland Park, Kansas

SBA Kansas Lenders