Business Loans for Full-Service Restaurants

Looking for business loans for full-service restaurants? The SBA may be the answer. This $537,000 full-service restaurants loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lanett, Alabama was able to borrow $537,000 from Newtek Small Business Finance Inc.. The SBA made the loan possible by guaranteeing $402,750 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
LANETT, AL 36863

SBA Loan Lender

NEWTEK SMALL BUSINESS FINANCE INC.
1440 BROADWAY, 17TH FL.
NEW YORK, NY 10018

This commercial loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a complete analysis of the loan application and, in return, SBA promises a rapid loan approval or denial response.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/22/2003

Loan Approval Gross Amount

$537,000

Loan Approval from the SBA

Of the total $537,000 loan amount, the SBA guaranteed $402,750.

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 8 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $537,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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