Where to Get Capital for Full-Service Restaurants

Looking for small business loans for full-service restaurants? Try the SBA. This $475,000 full-service restaurants loan was issued by a Virginia bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Midlothian, Virginia was able to borrow $475,000 from Citizens & Farmers Bank. The SBA made the loan possible by guaranteeing $356,250 of this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MIDLOTHIAN, VA 23113

SBA Loan Lender

CITIZENS & FARMERS BANK
1400 ALVERSER DR, C & F CENTE
MIDLOTHIAN, VA 23112

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/23/2003

Loan Approval Gross Amount

$475,000

Loan Approval from the SBA

Of the total $475,000 loan amount, the SBA guaranteed $356,250.

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 70 employees. This SBA loan request did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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.

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