Financing for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? Talk to a banker who works with the SBA. This $150,000 full-service restaurants loan was issued by a Tennessee bank.

This small business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Legends Bank, out of Clarksville, Tennessee. The loan was granted and they received $150,000 to help grow their Clarksville, Tennessee business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CLARKSVILLE, TN 37040

SBA Loan Lender

LEGENDS BANK
310 N FIRST ST
CLARKSVILLE, TN 37040

This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/26/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 6 employees. This SBA loan request indicated that the borrowed money would help generate 6 new jobs.

Next Steps for Getting an SBA Loan

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Legends Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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Small Bank Loans in Clarksville, Tennessee

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