Raising Money for Limited-Service Restaurants

Looking for business loans for limited-service restaurants? Talk to a banker who works with the SBA. This $361,300 limited-service restaurants loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Carpinteria, California was able to borrow $361,300 from Montecito Bank & Trust. The SBA made the loan possible by guaranteeing $270,975 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CARPINTERIA, CA 93013

SBA Loan Lender

MONTECITO BANK & TRUST
1106 COAST VILLAGE RD
SANTA BARBARA, CA 93108

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/8/2002

Loan Approval Gross Amount

$361,300

Loan Approval from the SBA

Of the total $361,300 loan amount, the SBA guaranteed $270,975.

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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Carpinteria or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Direct Public Offerings

Small Bank Loans in Santa Barbara, California

Where to Get an SBA Loan California