Full-Service Restaurants Business Loans

Looking for business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $439,500 full-service restaurants loan was issued by a Texas bank.

This small business knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Prosper Bank, based in Prosper, Texas.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
AUSTIN, TX 78704

SBA Loan Lender

PROSPER BANK
805 E 1ST ST
PROSPER, TX 75078

This SBA 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.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/4/2006

Loan Approval Gross Amount

$439,500

Loan Approval from the SBA

Of the total $439,500 loan amount, the SBA guaranteed $329,625.

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 3 employees. The SBA loan documents did not indicate that the company promised to use the money to add employees 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Prosper Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Family and Friend Investors - Your First Financiers

SBA 7A Banks in Prosper, Texas

Texas SBA 7A Lenders