Borrowing Money for Limited-Service Restaurants

Looking for small business loans for limited-service restaurants? The SBA may be the answer. This $305,000 limited-service restaurants loan was issued by a California bank.

Getting a small business loan in Tustin, California was important for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Security Pacific Bank, operating out of Los Angeles, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
TUSTIN, CA 92780

SBA Loan Lender

SECURITY PACIFIC BANK
12121 WILSHIRE BLVD, STE 1350
LOS ANGELES, CA 90025

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/17/2007

Loan Approval Gross Amount

$305,000

Loan Approval from the SBA

Of the total $305,000 loan amount, the SBA guaranteed $228,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 2 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Security Pacific Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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