Getting an SBA Loan for Limited-Service Restaurants

With these commercial loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $667,000 was given to an Illinois entrepreneur in 2006.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with United Central Bank, out of Garland, Texas. The loan was granted and they received $667,000 to help grow their Chicago, Illinois business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CHICAGO, IL 60601

SBA Loan Lender

UNITED CENTRAL BANK
4555 W WALNUT ST
GARLAND, TX 75042

This lender provides SBA business 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

11/9/2006

Loan Approval Gross Amount

$667,000

Loan Approval from the SBA

Of the total $667,000 loan amount, the SBA guaranteed $500,250.

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 only one employee. The loan application indicated that the loan would help generate 13 new jobs and retain 14 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

VC Firms on Twitter

Banks in Garland, Texas

Texas SBA 7A Lenders