Loans for Full-Service Restaurants

Looking for loans for full-service restaurants? Talk to a banker who works with the SBA. This $250,000 full-service restaurants loan was issued by a California bank.

This small firm knew how to go about getting a business bank loan. Based in New York, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Nara Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NEW YORK, NY 11358

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/29/2002

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 only one employee. The loan application indicated that the borrowed money would help create 5 new jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in New York NY, you ought to talk with a local New York SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New York 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 $250,000 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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