Borrowing Money for Full-Service Restaurants

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $408,000 was given to a Colorado entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakewood, Colorado was able to borrow $408,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $306,000 of this Colorado small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LAKEWOOD, CO 80215

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/20/2001

Loan Approval Gross Amount

$408,000

Loan Approval from the SBA

Of the total $408,000 loan amount, the SBA guaranteed $306,000.

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 only one employee. The loan application indicated that the loan would help create 45 new jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Lakewood CO, you ought to talk with a local Lakewood SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Lakewood businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Small Business Credit Cards

SBA Participating Banks in Dallas, Texas

SBA Lenders in Texas