Get an SBA Loan 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 $832,500 was given to a Texas entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Longview, Texas was able to borrow $832,500 from Austin Bank Texas. The SBA made the loan possible by guaranteeing $624,375 of this Texas small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LONGVIEW, TX 75601

SBA Loan Lender

AUSTIN BANK TEXAS
108 E BROADWAY
BIG SANDY, TX 75755

This bank loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan applications to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/13/2005

Loan Approval Gross Amount

$832,500

Loan Approval from the SBA

Of the total $832,500 loan amount, the SBA guaranteed $624,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Austin Bank Texas 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:

Accountant's Role in Securing Financing

Small Bank Loans in Big Sandy, Texas

Texas SBA Banks