Financing for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? Try the SBA. This $284,859 full-service restaurants loan was issued by an Illinois bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Edwardsville, Illinois was able to borrow $284,859 from First Clover Leaf Bank. The SBA made the loan possible by guaranteeing $213,644 of this Illinois small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
EDWARDSVILLE, IL 62025

SBA Loan Lender

FIRST CLOVER LEAF BANK
200 E PARK ST
EDWARDSVILLE, IL 62025

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide 7A business loans to to our country's hard-working small business owners.

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

2/9/2006

Loan Approval Gross Amount

$284,859

Loan Approval from the SBA

Of the total $284,859 loan amount, the SBA guaranteed $213,644.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

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 $284,859 loan. Remember, anyone can do it... so why not you?

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:

Realistic Debt Financing Options

Small Bank Loans in Edwardsville, Illinois

Illinois SBA Bank Lenders