Limited-Service Restaurants SBA Loans
Looking for SBA loans for limited-service restaurants? The SBA may be the answer. This $152,000 limited-service restaurants loan was issued by an Arizona bank.
This small business knew how to go about getting a business bank loan. Based in Albuquerque, New Mexico, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Wells Fargo Bank, based in Phoenix, Arizona.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
ALBUQUERQUE, NM 87112
SBA Loan Lender
WELLS FARGO BANK
100 W WASHINGTON ST
PHOENIX, AZ 85003
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
1/17/2003
Loan Approval Gross Amount
$152,000
Loan Approval from the SBA
Of the total $152,000 loan amount, the SBA guaranteed $114,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 45 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 55 existing jobs.
Getting an SBA Loan For Your Business
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
We can help you find the best banks for small businesses in Albuquerque or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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