Getting an SBA Loan for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $117,300 full-service restaurants loan was issued by a Texas bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Corpus Christi, Texas was able to borrow $117,300 from Meridian Bank Texas. The SBA made the loan possible by guaranteeing $99,705 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CORPUS CHRISTI, TX 78410

SBA Loan Lender

MERIDIAN BANK TEXAS
915 FLORENCE
FORT WORTH, TX 76102

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/4/2005

Loan Approval Gross Amount

$117,300

Loan Approval from the SBA

Of the total $117,300 loan amount, the SBA guaranteed $99,705.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Equity Financing

Best Banks for Small Business in Fort Worth, Texas

Texas SBA Banks