Commercial Loans for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? Try the SBA. This $250,000 full-service restaurants loan was issued by a California bank.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Nara Bank, out of Los Angeles, California. The loan was granted and they received $250,000 to help grow their Covina, California business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Covina, CA 91722

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/30/2007

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 25 employees. The SBA loan documents indicated that the loan would help retain 25 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Covina CA, you ought to talk with a local Covina SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Covina businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

How Equity Dilution Works

Where to Get an SBA Loan in Los Angeles, California

Getting an SBA Loan in California