Loans for Full-Service Restaurants

Looking for loans for full-service restaurants? Try the SBA. This $1,405,000 full-service restaurants loan was issued by an Illinois bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Ups Capital Business Credit, out of Schaumburg, Illinois. The loan was granted and they received $1,405,000 to help grow their Oak Creek, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES
OAK CREEK, WI 53154

SBA Loan Lender

UPS CAPITAL BUSINESS CREDIT
10 N MARTINGALE RD, 4TH F, ST
SCHAUMBURG, IL 60173

This bank 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.

SIC Code

3541 - Machine Tools, Metal Cutting Types

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/20/2002

Loan Approval Gross Amount

$1,405,000

Loan Approval from the SBA

Of the total $1,405,000 loan amount, the SBA guaranteed $999,995.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 80 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Ups Capital Business Credit and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Small Bank Loans in Schaumburg, Illinois

Illinois SBA Banks