How to Get a Loan for Full-Service Restaurants

Looking for business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $495,000 full-service restaurants loan was issued by an Arizona bank.

This small business knew how to go about getting a business bank loan. Based in Scottsdale, Arizona, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Stearns Bank Arizona, based in Scottsdale, Arizona.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SCOTTSDALE, AZ 85260

SBA Loan Lender

STEARNS BANK ARIZONA
9225 E SHEA BLVD
SCOTTSDALE, AZ 85260

This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/21/2000

Loan Approval Gross Amount

$495,000

Loan Approval from the SBA

Of the total $495,000 loan amount, the SBA guaranteed $371,250.

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 60 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Scottsdale AZ, you ought to talk with a local Scottsdale SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Scottsdale businesses.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Stearns Bank Arizona so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 Art of Bootstrapping

SBA Participating Banks in Scottsdale, Arizona

Arizona SBA 7A Banks