Loan Census Banking News and Information
May 25, 2024  
 
 
  Business Loan Information  
 

Sitka, Alaska Bank Loan

 

 
Loan Census SBA Loan Info

Limited-Service Restaurants Small Business Loans

Looking for small business loans for limited-service restaurants? Try the SBA. This $40,000 limited-service restaurants loan was issued by an Alaska bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Wells Fargo Bank, out of Sitka, Alaska. The loan was granted and they received $40,000 to help grow their Sitka, Alaska business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SITKA, AK 99835

SBA Loan Lender

WELLS FARGO BANK
300 LINCOLN ST
SITKA, AK 99835

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/6/2002

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 4 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

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

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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $40,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Small Business Loan

Where to Get an SBA Loan in Sitka, Alaska

Getting an SBA Loan in Alaska