Get an SBA Loan for Full-Service Restaurants

With these bank loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $652,000 was given to a California entrepreneur in 2006.

This company knew how to go about getting a business bank loan. Based in San Diego, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was La Jolla Bank, Fsb, based in La Jolla, California.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SAN DIEGO, CA 92105

SBA Loan Lender

LA JOLLA BANK, FSB
888 PROSPECT ST
LA JOLLA, CA 92037

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

722110 - Full-Service Restaurants

Loan Approval Date

6/23/2006

Loan Approval Gross Amount

$652,000

Loan Approval from the SBA

Of the total $652,000 loan amount, the SBA guaranteed $489,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 8 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into La Jolla Bank, Fsb and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Business Credit Evaluation

SBA 7A Banks in La Jolla, California

California SBA 7A Lenders