Raising Money for Limited-Service Restaurants

With these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $697,500 was given to a California entrepreneur in 2004.

Getting a small business loan in Sierra Madre, California was important for this small business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Professional Business Bank, operating out of Pasadena, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SIERRA MADRE, CA 91024

SBA Loan Lender

PROFESSIONAL BUSINESS BANK
199 S LOS ROBLES AVE, STE 130
PASADENA, CA 91101

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/18/2004

Loan Approval Gross Amount

$697,500

Loan Approval from the SBA

Of the total $697,500 loan amount, the SBA guaranteed $523,125.

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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Debt Financing

Find an SBA Lender in Pasadena, California

California SBA 7A Lenders