Where to Get Capital for Limited-Service Restaurants
Looking for small business loans for limited-service restaurants? The SBA may be the answer. This $850,000 limited-service restaurants loan was issued by a California bank.
This company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with California Bank & Trust, out of Sacramento, California. The loan was granted and they received $850,000 to help grow their Sylmar, California business.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SYLMAR, CA 91342
SBA Loan Lender
CALIFORNIA BANK & TRUST
2399 GATEWAY OAKS DR, STE 110
SACRAMENTO, CA 95833
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
722211 - Limited-Service Restaurants
Loan Approval Date
6/3/2004
Loan Approval Gross Amount
$850,000
Loan Approval from the SBA
Of the total $850,000 loan amount, the SBA guaranteed $425,000.
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 28 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 28 existing jobs.
Next Steps for Getting an SBA Loan
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
We can help you find the best banks for small businesses in Sylmar or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.
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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