Financing for Full-Service Restaurants

Looking for loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $1,307,700 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 Ontario, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Mirae Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ONTARIO, CA 91762

SBA Loan Lender

MIRAE BANK
3255 WILSHIRE BLVD, STE 1100
LOS ANGELES, CA 90010

This lender provides SBA 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

7/25/2006

Loan Approval Gross Amount

$1,307,700

Loan Approval from the SBA

Of the total $1,307,700 loan amount, the SBA guaranteed $980,775.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 13 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 13 existing jobs.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Mirae Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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