Raising Money for Full-Service Restaurants

Looking for business loans for full-service restaurants? Talk to a banker who works with the SBA. This $571,500 full-service restaurants loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Garden Grove, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Center Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GARDEN GROVE, CA 92840

SBA Loan Lender

CENTER BANK
3435 WILSHIRE BLVD, STE 700
LOS ANGELES, CA 90010

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

10/31/2002

Loan Approval Gross Amount

$571,500

Loan Approval from the SBA

Of the total $571,500 loan amount, the SBA guaranteed $428,625.

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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or need money to grow a business, an SBA loan can be a great way to raise money

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

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