Loan Census Banking News and Information
November 29, 2020  
 
 
  Business Loan Information  
 

How Hard Is It to Get a Small Business Loan in Fresno, Texas?

 

 
Loan Census SBA Loan Info

Bank Loans for Full-Service Restaurants

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 $250,000 was given to a Texas entrepreneur in 2003.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Banco Popular North America, out of New York City, New York. The loan was granted and they received $250,000 to help grow their Fresno, Texas business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FRESNO, TX 77479

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
7 W 51ST ST, BETWEEN 5TH & 6T
NEW YORK CITY, NY 10019

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/5/2003

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 2 employees. This SBA loan request indicated that the loan would help generate 13 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

If you want money for new small business in Fresno TX, you ought to talk with a local Fresno SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fresno businesses.

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 Banco Popular North America 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.

Related Links:

Equity Financing

SBA Banks in New York City, New York

SBA New York Banks