Commercial Loans for Full-Service Restaurants
Looking for commercial loans for full-service restaurants? Talk to a banker who works with the SBA. This $101,000 full-service restaurants loan was issued by a California bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Francisco, California was able to borrow $101,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $85,850 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
SAN FRANCISCO, CA 94114
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
1/18/2002
Loan Approval Gross Amount
$101,000
Loan Approval from the SBA
Of the total $101,000 loan amount, the SBA guaranteed $85,850.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 140 employees. The SBA loan documents indicated that the loan would help generate 140 new jobs and retain 140 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $101,000 loan. Remember, anyone can do it... so why not you?
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:
Alternative Financing
SBA Approved Banks in San Jose, California
Getting an SBA Loan in California