Business Loans for Limited-Service Restaurants

Looking for business loans for limited-service restaurants? Talk to a banker who works with the SBA. This $368,900 limited-service restaurants loan was issued by an Utah bank.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Bank Of The West, out of Salt Lake City, Utah. The loan was granted and they received $368,900 to help grow their Salt Lake City, Utah business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SALT LAKE CITY, UT 84104

SBA Loan Lender

BANK OF THE WEST
142 EAST 200 SOUTH
SALT LAKE CITY, UT 84111

This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/8/2001

Loan Approval Gross Amount

$368,900

Loan Approval from the SBA

Of the total $368,900 loan amount, the SBA guaranteed $276,675.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 14 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

If you want money for new small business in Salt Lake City UT, you ought to talk with a local Salt Lake City SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Salt Lake City businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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