Full-Service Restaurants Business Loans

Looking for business loans for full-service restaurants? The SBA may be the answer. This $130,000 full-service restaurants loan was issued by a Louisiana bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with St. Landry Bank & Trust, out of Opelousas, Louisiana. The loan was granted and they received $130,000 to help grow their Lafayette, Louisiana business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LAFAYETTE, LA 70508

SBA Loan Lender

ST. LANDRY BANK & TRUST
132 E LANDRY ST
OPELOUSAS, LA 70570

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/14/2003

Loan Approval Gross Amount

$130,000

Loan Approval from the SBA

Of the total $130,000 loan amount, the SBA guaranteed $110,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 36 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into St. Landry Bank & Trust and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Direct Public Offerings

Best Banks for Small Business in Opelousas, Louisiana

Getting an SBA Loan in Louisiana