Loans for Full-Service Restaurants
Looking for loans for full-service restaurants? Try the SBA. This $100,000 full-service restaurants loan was issued by a California bank.
This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Wells Fargo Bank, out of San Jose, California. The loan was granted and they received $100,000 to help grow their Iron River, Michigan business.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
IRON RIVER, MI 49938
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
This loan for a small business was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
6/10/2004
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
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 only one employee. The loan application indicated that the loan would help generate 20 new jobs and retain 21 existing jobs.
Getting an SBA Loan For Your Business
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.
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 $100,000 loan. Remember, if it to be, it is up to me!
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:
Determining Proper Capital Structure for a Business
Find an SBA Lender in San Jose, California
SBA Lenders in California