Limited-Service Restaurants Small Business Loans

Looking for small business loans for limited-service restaurants? The SBA may be the answer. This $186,631 limited-service restaurants loan was issued by a California bank.

Getting a small business loan in Walnut Creek, California was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from The Mechanics Bank, operating out of Point Richmond, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WALNUT CREEK, CA 94596

SBA Loan Lender

THE MECHANICS BANK
1001 W CUTTING BLVD
POINT RICHMOND, CA 94804

This lender issued this debt financing under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/4/2003

Loan Approval Gross Amount

$186,631

Loan Approval from the SBA

Of the total $186,631 loan amount, the SBA guaranteed $139,973.

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 22 employees. The SBA loan documents did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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.

Related Links:

The Friends and Family Network

SBA Approved Banks in Point Richmond, California

California SBA Banks