Commercial Loans for Limited-Service Restaurants

With these commercial loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $513,000 was given to a Georgia entrepreneur in 2005.

This small business knew how to go about getting a business bank loan. Based in Douglasville, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Citizens & Merchants St. Bk, based in Douglasville, Georgia.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
DOUGLASVILLE, GA 30134

SBA Loan Lender

CITIZENS & MERCHANTS ST. BK
6500 E CHURCH ST
DOUGLASVILLE, GA 30134

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/24/2005

Loan Approval Gross Amount

$513,000

Loan Approval from the SBA

Of the total $513,000 loan amount, the SBA guaranteed $384,750.

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 30 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Citizens & Merchants St. Bk had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Citizens & Merchants St. Bk made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Borrowing Money from Friends and Family

Banks in Douglasville, Georgia

SBA Georgia Banks