SBA Loans for Limited-Service Restaurants

With these SBA loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $714,000 was given to a California entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pico Rivera, California was able to borrow $714,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $535,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
PICO RIVERA, CA 90660

SBA Loan Lender

COMERICA BANK
455 CAPITAL MALL, STE 115
SACRAMENTO, CA 95814

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/10/2002

Loan Approval Gross Amount

$714,000

Loan Approval from the SBA

Of the total $714,000 loan amount, the SBA guaranteed $535,500.

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 25 employees. The loan application did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Comerica Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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Where to Get an SBA Loan California