How to Get a Loan for Full-Service Restaurants
Looking for business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $10,000 full-service restaurants loan was issued by a California bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Beverly Hills, California was able to borrow $10,000 from Innovative Bank. The SBA made the loan possible by guaranteeing $8,500 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
BEVERLY HILLS, CA 90212
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
12/10/2003
Loan Approval Gross Amount
$10,000
Loan Approval from the SBA
Of the total $10,000 loan amount, the SBA guaranteed $8,500.
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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 3 existing jobs.
Start the Process for Getting an SBA Loan Today!
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.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Innovative Bank and they will explain how you can get an SBA loan for your company.
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:
Role of Business Plan When Raising Money
SBA 7A Lenders in Oakland, California
Where to Get an SBA Loan California