Raising Money for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $701,200 limited-service restaurants loan was issued by a California bank.

This small firm knew how to go about getting a business bank loan. Based in San Mateo, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Wachovia Sba Lending, Inc., based in Roseville, California.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SAN MATEO, CA 94401

SBA Loan Lender

WACHOVIA SBA LENDING, INC.
1620 E. ROSEVILLE PKWY, STE 1
ROSEVILLE, CA 95661

When this loan was made, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to offer expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/10/2003

Loan Approval Gross Amount

$701,200

Loan Approval from the SBA

Of the total $701,200 loan amount, the SBA guaranteed $525,900.

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

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $701,200. How would you spend $701,200 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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