Get an SBA Loan for Full-Service Restaurants

Looking for small business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $61,800 full-service restaurants loan was issued by an Arkansas bank.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Arvest Bank, out of Fayetteville, Arkansas. The loan was granted and they received $61,800 to help grow their Tulsa, Oklahoma business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
TULSA, OK 74105

SBA Loan Lender

ARVEST BANK
75 N EAST AVE
FAYETTEVILLE, AR 72701

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/17/2000

Loan Approval Gross Amount

$61,800

Loan Approval from the SBA

Of the total $61,800 loan amount, the SBA guaranteed $49,440.

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 35 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Arvest Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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