Limited-Service Restaurants Commercial Loans
Looking for commercial loans for limited-service restaurants? The SBA may be the answer. This $281,000 limited-service restaurants loan was issued by a California bank.
This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Wells Fargo Bank, out of San Jose, California. The loan was granted and they received $281,000 to help grow their Britton, South Dakota business.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BRITTON, SD 57430
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
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
722211 - Limited-Service Restaurants
Loan Approval Date
10/28/2005
Loan Approval Gross Amount
$281,000
Loan Approval from the SBA
Of the total $281,000 loan amount, the SBA guaranteed $210,750.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 13 employees. The SBA loan application for the borrower indicated that the loan would help retain 13 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Don't apply for a loan directly with the SBA. You need to 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.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $281,000 loan. Remember, fight for what you want, and it will be yours!
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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Getting a Business Loan in California