Full-Service Restaurants Commercial Loans

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $801,565 was given to an Arkansas entrepreneur in 2006.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First St. Bank Corp, out of Russellville, Arkansas. The loan was granted and they received $801,565 to help grow their Danville, Arkansas business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
DANVILLE, AR 72833

SBA Loan Lender

FIRST ST. BANK CORP
3103 E MAIN ST
RUSSELLVILLE, AR 72802

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/20/2006

Loan Approval Gross Amount

$801,565

Loan Approval from the SBA

Of the total $801,565 loan amount, the SBA guaranteed $601,174.

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 only one employee. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First St. Bank Corp and they will explain how you can get an SBA loan for your company.

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:

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Best Banks in Russellville, Arkansas

SBA Participating Banks in Arkansas