Financing for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $1,283,000 was given to a California entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Mammoth Lakes, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Community W. Bank, based in Goleta, California.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MAMMOTH LAKES, CA 93546

SBA Loan Lender

COMMUNITY W. BANK
5827 HOLLISTER AVE
GOLETA, CA 93117

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/21/2003

Loan Approval Gross Amount

$1,283,000

Loan Approval from the SBA

Of the total $1,283,000 loan amount, the SBA guaranteed $962,250.

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 30 employees. The loan application indicated that the loan would help retain 29 existing jobs.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $1,283,000. How would you spend $1,283,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Small Business Credit Cards

SBA Participating Banks in Goleta, California

Getting an SBA Loan in California