Where to Get Capital for Full-Service Restaurants

Looking for small business loans for full-service restaurants? The SBA may be the answer. This $1,246,000 full-service restaurants loan was issued by a Louisiana bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Slidell, Louisiana was able to borrow $1,246,000 from First Bank And Trust. The SBA made the loan possible by guaranteeing $934,500 of this Louisiana small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Slidell, LA 70460

SBA Loan Lender

FIRST BANK AND TRUST
909 POYDRAS ST, STE 100
NEW ORLEANS, LA 70112

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/25/2007

Loan Approval Gross Amount

$1,246,000

Loan Approval from the SBA

Of the total $1,246,000 loan amount, the SBA guaranteed $934,500.

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 9 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 9 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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.

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