Full-Service Restaurants Bank Loans

Looking for bank loans for full-service restaurants? Try the SBA. This $192,500 full-service restaurants loan was issued by an Alabama bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Compass Bank, out of Birmingham, Alabama. The loan was granted and they received $192,500 to help grow their Houma, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HOUMA, LA 70360

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

12/14/2001

Loan Approval Gross Amount

$192,500

Loan Approval from the SBA

Of the total $192,500 loan amount, the SBA guaranteed $144,375.

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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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