Financing for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $1,671,700 was given to a Georgia entrepreneur in 2006.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Community W. Bank, out of Goleta, California. The loan was granted and they received $1,671,700 to help grow their Atlanta, Georgia business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ATLANTA, GA 30346

SBA Loan Lender

COMMUNITY W. BANK
5827 HOLLISTER AVE
GOLETA, CA 93117

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

722110 - Full-Service Restaurants

Loan Approval Date

7/25/2006

Loan Approval Gross Amount

$1,671,700

Loan Approval from the SBA

Of the total $1,671,700 loan amount, the SBA guaranteed $1,253,775.

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 1183 employees. This SBA loan request indicated that the loan would help generate 38 new jobs and retain 84 existing jobs.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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