Full-Service Restaurants Bank Loans

With these bank loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $516,000 was given to a Texas entrepreneur in 2006.

This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Prosper Bank, out of Prosper, Texas. The loan was granted and they received $516,000 to help grow their Westlake, Texas business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
WESTLAKE, TX 76262

SBA Loan Lender

PROSPER BANK
805 E 1ST ST
PROSPER, TX 75078

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/27/2006

Loan Approval Gross Amount

$516,000

Loan Approval from the SBA

Of the total $516,000 loan amount, the SBA guaranteed $387,000.

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 only one employee. This SBA loan request indicated that the loan would help generate 30 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Prosper Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Prosper Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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