Commercial Loans for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? Try the SBA. This $349,300 limited-service restaurants loan was issued by a Texas bank.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Comerica Bank, out of Houston, Texas. The loan was granted and they received $349,300 to help grow their El Paso, Texas business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
EL PASO, TX 79912

SBA Loan Lender

COMERICA BANK
1900 W LOOP SOUTH
HOUSTON, TX 77027

This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/3/2000

Loan Approval Gross Amount

$349,300

Loan Approval from the SBA

Of the total $349,300 loan amount, the SBA guaranteed $261,975.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 66 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 51 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Comerica Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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Texas SBA Banks