Full-Service Restaurants Small Business Loans

Looking for small business loans for full-service restaurants? Try the SBA. This $630,400 full-service restaurants loan was issued by a Texas bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Communitybank - Texas, out of Newton, Texas. The loan was granted and they received $630,400 to help grow their Nederland, Texas business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
NEDERLAND, TX 40972

SBA Loan Lender

COMMUNITYBANK - TEXAS
MAIN & RUSK ST
NEWTON, TX 75966

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

3/1/2002

Loan Approval Gross Amount

$630,400

Loan Approval from the SBA

Of the total $630,400 loan amount, the SBA guaranteed $472,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the business promised to use the funding to increase staffing levels 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.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $630,400 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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