Bank Loans for Limited-Service Restaurants

With these bank loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $1,540,200 was given to a Tennessee entrepreneur in 2007.

Getting a small business loan in Pleasant View, Tennessee was important for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Comerica Bank, operating out of Dallas, Texas. Here are the details on this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
Pleasant View, TN 37146

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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

722211 - Limited-Service Restaurants

Loan Approval Date

5/2/2007

Loan Approval Gross Amount

$1,540,200

Loan Approval from the SBA

Of the total $1,540,200 loan amount, the SBA guaranteed $1,155,150.

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 2 employees. The SBA loan documents indicated that the loan would help generate 40 new jobs and retain 40 existing jobs.

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.

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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