Borrowing Money for Full-Service Restaurants

Looking for small business loans for full-service restaurants? The SBA may be the answer. This $194,000 full-service restaurants loan was issued by an Alaska bank.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Wells Fargo Bank, out of Anchorage, Alaska. The loan was granted and they received $194,000 to help grow their Homer, Alaska business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HOMER, AK 99603

SBA Loan Lender

WELLS FARGO BANK
301 W NORTHERN LIGHTS BLVD, S
ANCHORAGE, AK 99503

This SBA small business loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA promises a fast loan decision.

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

10/6/2000

Loan Approval Gross Amount

$194,000

Loan Approval from the SBA

Of the total $194,000 loan amount, the SBA guaranteed $140,999.

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 10 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $194,000 loan. Remember, feel the fear, and do it anyway.

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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Find an SBA Lender in Anchorage, Alaska

SBA Lenders in Alaska