Raising Money for Full-Service Restaurants
Looking for bank loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $321,300 full-service restaurants loan was issued by a California bank.
This small firm knew how to go about getting a business bank loan. Based in Woodland, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Wells Fargo Bank, based in Roseville, California.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
WOODLAND, CA 95695
SBA Loan Lender
WELLS FARGO BANK
2000 DOUGLAS BLVD
ROSEVILLE, CA 95661
When this loan was made, the lender participated in the SBA's Certified Lenders Program (CLP). This program was created to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
9/21/2001
Loan Approval Gross Amount
$321,300
Loan Approval from the SBA
Of the total $321,300 loan amount, the SBA guaranteed $240,975.
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 16 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
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 Wells Fargo 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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