Where to Get Capital for Full-Service Restaurants

With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $379,500 was given to a Texas entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Beaumont, Texas was able to borrow $379,500 from Sterling Bank. The SBA made the loan possible by guaranteeing $284,625 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BEAUMONT, TX 77706

SBA Loan Lender

STERLING BANK
2550 N LOOP WEST
HOUSTON, TX 77092

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/9/2006

Loan Approval Gross Amount

$379,500

Loan Approval from the SBA

Of the total $379,500 loan amount, the SBA guaranteed $284,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 12 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $379,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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