Commercial Loans for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? The SBA may be the answer. This $937,700 full-service restaurants loan was issued by a Georgia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Canton, Georgia was able to borrow $937,700 from Rbc Centura Bank. The SBA made the loan possible by guaranteeing $703,275 of this Georgia small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CANTON, GA 30319

SBA Loan Lender

RBC CENTURA BANK
3475 PIEDMONT RD NE, STE 550
ATLANTA, GA 30305

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/10/2001

Loan Approval Gross Amount

$937,700

Loan Approval from the SBA

Of the total $937,700 loan amount, the SBA guaranteed $703,275.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 30 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Rbc Centura Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Getting an SBA Loan in Georgia