Raising Money for Limited-Service Restaurants

Looking for business loans for limited-service restaurants? Try the SBA. This $136,000 limited-service restaurants loan was issued by a Texas bank.

This small business knew how to go about getting a business bank loan. Based in Jonestown, Texas, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Prosperity Bank, based in Lakeway, Texas.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
JONESTOWN, TX 78645

SBA Loan Lender

PROSPERITY BANK
1415 RANCH RD 620 SOUTH
LAKEWAY, TX 78734

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/20/2004

Loan Approval Gross Amount

$136,000

Loan Approval from the SBA

Of the total $136,000 loan amount, the SBA guaranteed $115,600.

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 6 employees. This SBA loan request did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Jonestown TX, you ought to talk with a local Jonestown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Jonestown businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Prosperity Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

The Friends and Family Network

SBA Participating Banks in Lakeway, Texas

Find an SBA Lender in Texas