Full-Service Restaurants Small Business Loans

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $54,000 was given to a entrepreneur in 2004.

This small firm knew how to go about getting a business bank loan. Based in Coamo, , they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Doral Bank, based in Catano, .

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
COAMO, PR 00795

SBA Loan Lender

DORAL BANK
163 BARBOSA AVE
CATANO, PR 00962

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/14/2004

Loan Approval Gross Amount

$54,000

Loan Approval from the SBA

Of the total $54,000 loan amount, the SBA guaranteed $45,900.

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 8 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

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

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $54,000 loan. Remember, where there is a will, there is a way!

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:

Realistic Debt Financing Options