Commercial Loans for Full-Service Restaurants

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $950,000 was given to a California entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bakersfield, California was able to borrow $950,000 from Business Loan Center, LLC. The SBA made the loan possible by guaranteeing $712,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BAKERSFIELD, CA 93304

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
1919 PENNSYLVANIA AVE NW, 3RD
WASHINGTON, DC 20006

This bank 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

10/29/2002

Loan Approval Gross Amount

$950,000

Loan Approval from the SBA

Of the total $950,000 loan amount, the SBA guaranteed $712,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 22 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Bakersfield CA, you ought to talk with a local Bakersfield SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bakersfield businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Business Loan Center, LLC had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Business Loan Center, LLC made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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

SBA 7A Banks for Washington, District of Columbia Loans

SBA Participating Banks in District of Columbia