How to Get a Loan for Limited-Service Restaurants

With these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $336,000 was given to a Texas entrepreneur in 2006.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Nara Bank, out of Los Angeles, California. The loan was granted and they received $336,000 to help grow their Haltom City, Texas business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
HALTOM CITY, TX 76111

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/21/2006

Loan Approval Gross Amount

$336,000

Loan Approval from the SBA

Of the total $336,000 loan amount, the SBA guaranteed $252,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $336,000. How would you spend $336,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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