Borrowing Money for Full-Service Restaurants
With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $747,000 was given to a Georgia entrepreneur in 2008.
This small firm knew how to go about getting a business bank loan. Based in Suwanee, Georgia, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Saehan Bank, based in Los Angeles, California.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
SUWANEE, GA 30024
SBA Loan Lender
SAEHAN BANK
3580 WILSHIRE BLVD, STE 1500
LOS ANGELES, CA 90010
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
1/14/2008
Loan Approval Gross Amount
$747,000
Loan Approval from the SBA
Of the total $747,000 loan amount, the SBA guaranteed $560,250.
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 9 employees. The loan application indicated that the loan would help retain 9 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $747,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Obtaining Funding - How to Decide How Much to Raise
SBA 7A Banks for Los Angeles, California Loans
Getting an SBA Loan in California