Small Business Loans 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 $57,500 was given to a California entrepreneur in 2004.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Hanmi Bank, out of Los Angeles, California. The loan was granted and they received $57,500 to help grow their Gardena, California business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GARDENA, CA 90249

SBA Loan Lender

HANMI BANK
3660 WILSHIRE BLVD, STE 103
LOS ANGELES, CA 90010

The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/14/2004

Loan Approval Gross Amount

$57,500

Loan Approval from the SBA

Of the total $57,500 loan amount, the SBA guaranteed $28,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower indicated that the loan would help retain 6 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Hanmi Bank and they will explain how you can get an SBA loan for your company.

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:

SBIR Funding

Small Bank Loans in Los Angeles, California

California SBA Banks