Getting an SBA Loan for Full-Service Restaurants

With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $361,000 was given to a Wisconsin entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kenosha, Wisconsin was able to borrow $361,000 from Southport Bank. The SBA made the loan possible by guaranteeing $270,750 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
KENOSHA, WI 53143

SBA Loan Lender

SOUTHPORT BANK
7027 GREEN BAY RD
KENOSHA, WI 53142

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 SBA 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

4/26/2006

Loan Approval Gross Amount

$361,000

Loan Approval from the SBA

Of the total $361,000 loan amount, the SBA guaranteed $270,750.

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 SBA funding recipient promised to use the funding to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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