Get an SBA Loan for Full-Service Restaurants

Looking for small business loans for full-service restaurants? The SBA may be the answer. This $400,000 full-service restaurants loan was issued by a California bank.

This company knew how to go about getting a business bank loan. Based in Monterey, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Monterey County Bank, based in Monterey, California.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MONTEREY, CA 93940

SBA Loan Lender

MONTEREY COUNTY BANK
601 MUNRAS AVE
MONTEREY, CA 93940

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

10/5/2004

Loan Approval Gross Amount

$400,000

Loan Approval from the SBA

Of the total $400,000 loan amount, the SBA guaranteed $300,000.

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 only one employee. The loan application indicated that the loan would help generate 14 new jobs and retain 15 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 Monterey County Bank 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.

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