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 $40,000 was given to a California entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $40,000 from Cathay Bank. The SBA made the loan possible by guaranteeing $20,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LOS ANGELES, CA 90017

SBA Loan Lender

CATHAY BANK
1420 E VALLEY BLVD
ALHAMBRA, CA 91801

This commercial loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/28/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $20,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 18 employees. The loan application indicated that the loan would help retain 18 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Cathay Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Alternative Financing

SBA Banks in Alhambra, California

Getting an SBA Loan in California