Raising Money for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $80,000 was given to a Texas entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with American Bank Of Texas, out of Sherman, Texas. The loan was granted and they received $80,000 to help grow their Gainesville, Texas business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GAINESVILLE, TX 76240

SBA Loan Lender

AMERICAN BANK OF TEXAS
2011 TEXOMA PKWY
SHERMAN, TX 75090

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/16/2004

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

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 17 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $80,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

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Best Banks in Sherman, Texas

Getting an SBA Loan in Texas