Borrowing Money for Full-Service Restaurants

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $325,000 was given to a Texas entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Frisco, Texas, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Regions Bank, based in Birmingham, Alabama.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Frisco, TX 75034

SBA Loan Lender

REGIONS BANK
417 NORTH 20TH ST
BIRMINGHAM, AL 35203

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/27/2006

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Regions Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Regions Bank 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:

Business Line of Credit

SBA 7A Banks for Birmingham, Alabama Loans

Getting an SBA Loan in Alabama