SBA Loans for Full-Service Restaurants

With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $740,000 was given to a Texas entrepreneur in 2006.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Independent Bank Of Texas, out of Irving, Texas. The loan was granted and they received $740,000 to help grow their Richardson, Texas business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
RICHARDSON, TX 75082

SBA Loan Lender

INDEPENDENT BANK OF TEXAS
4300 N BELTLINE RD
IRVING, TX 75038

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/7/2006

Loan Approval Gross Amount

$740,000

Loan Approval from the SBA

Of the total $740,000 loan amount, the SBA guaranteed $555,000.

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 10 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Independent Bank Of Texas had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Independent Bank Of Texas made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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 Texas