Full-Service Restaurants Loans

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $100,000 was given to a California entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Santa Monica, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Beach Business Bank, based in Manhattan Beach, California.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SANTA MONICA, CA 90403

SBA Loan Lender

BEACH BUSINESS BANK
1230 ROSECRANS AVE, STE 100
MANHATTAN BEACH, CA 90266

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/1/2006

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

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 3 employees. The loan application indicated that the loan would help generate 13 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

The Friends and Family Network

Find an SBA Lender in Manhattan Beach, California

Where to Get an SBA Loan California