Full-Service Restaurants Bank Loans
With these bank loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $610,000 was given to a California entrepreneur in 2007.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Encino, California was able to borrow $610,000 from California Oaks State Bank. The SBA made the loan possible by guaranteeing $457,500 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
Encino, CA 91316
SBA Loan Lender
CALIFORNIA OAKS STATE BANK
50 W HILLCREST DR
THOUSAND OAKS, CA 91360
This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
5/25/2007
Loan Approval Gross Amount
$610,000
Loan Approval from the SBA
Of the total $610,000 loan amount, the SBA guaranteed $457,500.
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 15 employees. The SBA loan application for the borrower indicated that the funding would help generate 2 new jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from California Oaks State Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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