Commercial Loans for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? The SBA may be the answer. This $83,300 full-service restaurants loan was issued by a Texas bank.

This business knew how to go about getting a business bank loan. Based in Panhandle, Texas, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Happy State Bank, based in Happy, Texas.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PANHANDLE, TX 79068

SBA Loan Lender

HAPPY STATE BANK
100 E MAIN ST
HAPPY, TX 79042

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/13/2005

Loan Approval Gross Amount

$83,300

Loan Approval from the SBA

Of the total $83,300 loan amount, the SBA guaranteed $70,805.

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 10 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $83,300 loan. Remember, if it to be, it is up to me!

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.

Related Links:

Angel Investors

Banks in Happy, Texas

Texas SBA Bank Lenders