Where to Get Capital for Full-Service Restaurants

Looking for SBA loans for full-service restaurants? The SBA may be the answer. This $62,900 full-service restaurants loan was issued by a Texas bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with First Victoria National Bank, out of Hearne, Texas. The loan was granted and they received $62,900 to help grow their Bryan, Texas business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BRYAN, TX 77801

SBA Loan Lender

FIRST VICTORIA NATIONAL BANK
122 W FOURTH ST
HEARNE, TX 77859

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/21/2004

Loan Approval Gross Amount

$62,900

Loan Approval from the SBA

Of the total $62,900 loan amount, the SBA guaranteed $53,465.

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 23 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First Victoria National Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Understanding Dilution

SBA Banks in Hearne, Texas

Getting an SBA Loan in Texas