Commercial Loans for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $482,000 limited-service restaurants loan was issued by a New Mexico bank.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with First Community Bank, out of Taos, New Mexico. The loan was granted and they received $482,000 to help grow their Albuquerque, New Mexico business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
ALBUQUERQUE, NM 87108

SBA Loan Lender

FIRST COMMUNITY BANK
120 W PLAZA
TAOS, NM 87571

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/7/2006

Loan Approval Gross Amount

$482,000

Loan Approval from the SBA

Of the total $482,000 loan amount, the SBA guaranteed $361,500.

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 24 employees. The loan application indicated that the loan would help retain 24 existing jobs.

Getting an SBA Loan For Your Business

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Community Bank and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding - How to Borrow Money

Find an SBA Lender in Taos, New Mexico

New Mexico SBA Banks