Getting an SBA Loan for Limited-Service Restaurants

With these commercial loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $651,000 was given to a California entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Long Beach, California was able to borrow $651,000 from United Commercial Bank. The SBA made the loan possible by guaranteeing $488,250 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LONG BEACH, CA 90808

SBA Loan Lender

UNITED COMMERCIAL BANK
555 MONTGOMERY ST
SAN FRANCISCO, CA 94111

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/25/2001

Loan Approval Gross Amount

$651,000

Loan Approval from the SBA

Of the total $651,000 loan amount, the SBA guaranteed $488,250.

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 12 employees. This SBA loan request indicated that the loan would help generate 46 new jobs and retain 12 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Long Beach CA, you ought to talk with a local Long Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Long Beach businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

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