Where to Get Capital for Full-Service Restaurants

Looking for small business loans for full-service restaurants? Try the SBA. This $294,000 full-service restaurants loan was issued by a Texas bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with The Frost National Bank, out of Alamo, Texas. The loan was granted and they received $294,000 to help grow their Harlingen, Texas business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HARLINGEN, TX 78550

SBA Loan Lender

THE FROST NATIONAL BANK
809 MAIN ST
ALAMO, TX 78516

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/23/2002

Loan Approval Gross Amount

$294,000

Loan Approval from the SBA

Of the total $294,000 loan amount, the SBA guaranteed $220,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. This SBA loan request did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into The Frost National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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