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May 16, 2024 |
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| Home > Small Business Lenders by State > Indiana Business Loan Sources > Lafayette, Business Loans > Lafayette Bank & Trust Natl Lafayette Business Loans > Eating Places Loan | ||||
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Lafayette, Indiana Bank Loan
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Raising Money for Full-Service RestaurantsLooking for bank loans for full-service restaurants? The SBA may be the answer. This $115,500 full-service restaurants loan was issued by an Indiana bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lafayette, Indiana was able to borrow $115,500 from Lafayette Bank & Trust Natl. The SBA made the loan possible by guaranteeing $86,625 of this Indiana small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender LAFAYETTE BANK & TRUST NATL This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. 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 11/21/2000 Loan Approval Gross Amount $115,500 Loan Approval from the SBA Of the total $115,500 loan amount, the SBA guaranteed $86,625. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you are raising money in Lafayette IN, you ought to talk with a local Lafayette SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lafayette businesses. We've showcased information on this loan to let you know that businesses like yours 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. Related Links: Best Banks in Lafayette, Indiana
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