Financing 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 $300,000 was given to an Arizona entrepreneur in 2006.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Sterling Savings Bank, out of Santa Rosa, California. The loan was granted and they received $300,000 to help grow their Scottsdale, Arizona business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Scottsdale, AZ 85254

SBA Loan Lender

STERLING SAVINGS BANK
801 FOURTH ST
SANTA ROSA, CA 95404

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

2/14/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

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 18 employees. The SBA loan documents indicated that the loan would help retain 18 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Sterling Savings Bank 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.

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