How to Get a Loan for Full-Service Restaurants
Looking for commercial loans for full-service restaurants? Try the SBA. This $150,000 full-service restaurants loan was issued by a North Carolina bank.
This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $150,000 to help grow their Idyllwild, California business.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
IDYLLWILD, CA 92549
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
The lender provided this SBA business loan 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
3/5/2004
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $75,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 9 employees. The SBA loan application for the borrower indicated that the loan would help retain 9 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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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