Getting an SBA Loan for Cafeterias, Grill Buffets, and Buffets

With these commercial loans for cafeterias, grill buffets, and buffets, the SBA guarantees the lender that the loan will be repaid. This cafeterias, grill buffets, and buffets loan for $1,248,000 was given to a California entrepreneur in 2006.

Getting a small business loan in Commerce, California was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Pacific City Bank, operating out of Los Angeles, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CAFETERIAS, GRILL BUFFETS, AND BUFFETS
COMMERCE, CA 90040

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010

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

722212 - Cafeterias, Grill Buffets, and Buffets

Loan Approval Date

7/12/2006

Loan Approval Gross Amount

$1,248,000

Loan Approval from the SBA

Of the total $1,248,000 loan amount, the SBA guaranteed $936,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Pacific City Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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