Borrowing Money for Full-Service Restaurants

Looking for loans for full-service restaurants? The SBA may be the answer. This $60,000 full-service restaurants loan was issued by a Georgia bank.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Unity National Bank, out of Cartersville, Georgia. The loan was granted and they received $60,000 to help grow their Rome, Georgia business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ROME, GA 30161

SBA Loan Lender

UNITY NATIONAL BANK
950 JOE FRANK HARRIS PKWY
CARTERSVILLE, GA 30121

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/23/2003

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Unity National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Unity National Bank 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.

Related Links:

Getting a Small Business Loan

SBA 7A Banks for Cartersville, Georgia Loans

SBA Georgia Banks