Business Loan from United Central Bank Given to Full-Service Restaurants Company

An SBA loan from United Central Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an El Paso, Texas business owner got a $1,213,200 loan.

This small firm knew how to go about getting a business bank loan. Based in El Paso, Texas, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was United Central Bank, based in Garland, Texas.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
EL PASO, TX 79925

SBA Loan Lender

UNITED CENTRAL BANK
4555 W WALNUT ST
GARLAND, TX 75042

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

3/14/2007

Loan Approval Gross Amount

$1,213,200

Loan Approval from the SBA

Of the total $1,213,200 loan amount, the SBA guaranteed $909,900.

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 54 employees. The loan application indicated that the loan would help retain 54 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,213,200 loan. Remember, you control your own destiny.

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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