Commercial Loans for Full-Service Restaurants
Looking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $50,000 full-service restaurants loan was issued by a California bank.
This business knew how to go about getting a business bank loan. Based in San Francisco, California, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Innovative Bank, based in Oakland, California.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
SAN FRANCISCO, CA 94118
SBA Loan Lender
INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612
The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to to our country's hard-working small business owners.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
8/23/2007
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Innovative Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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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