Loans for Full-Service Restaurants

Looking for loans for full-service restaurants? Talk to a banker who works with the SBA. This $18,500 full-service restaurants loan was issued by an Utah bank.

This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Brighton Bank, out of Salt Lake City, Utah. The loan was granted and they received $18,500 to help grow their Salt Lake City, Utah business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SALT LAKE CITY, UT 84115

SBA Loan Lender

BRIGHTON BANK
940 W NORTH TEMPLE
SALT LAKE CITY, UT 84116

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring 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

9/26/2000

Loan Approval Gross Amount

$18,500

Loan Approval from the SBA

Of the total $18,500 loan amount, the SBA guaranteed $14,800.

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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

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

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. Brighton Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Brighton 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:

Borrowing Money from Friends and Family

SBA Approved Banks in Salt Lake City, Utah

Utah SBA Banks