Full-Service Restaurants Commercial Loans

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $1,024,000 was given to a California entrepreneur in 2007.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Shinhan Bank America, out of New York City, New York. The loan was granted and they received $1,024,000 to help grow their Long Beach, California business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Long Beach, CA 90802

SBA Loan Lender

SHINHAN BANK AMERICA
330 FIFTH AVE, 4TH FL
NEW YORK CITY, NY 10016

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

8/3/2007

Loan Approval Gross Amount

$1,024,000

Loan Approval from the SBA

Of the total $1,024,000 loan amount, the SBA guaranteed $768,000.

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.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Shinhan Bank America and they will explain how you can get an SBA loan for your company.

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:

Business Line of Credit

Good Banks for Small Business in New York City, New York

SBA Lenders in New York