Raising Money 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 $830,000 was given to an Alabama entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Orange Beach, Alabama was able to borrow $830,000 from Banco Popular North America. The SBA made the loan possible by guaranteeing $622,500 of this Alabama small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ORANGE BEACH, AL 36561

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

9/9/2005

Loan Approval Gross Amount

$830,000

Loan Approval from the SBA

Of the total $830,000 loan amount, the SBA guaranteed $622,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 80 employees. The SBA loan application for the borrower indicated that the loan would help retain 80 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Orange Beach AL, you ought to talk with a local Orange Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Orange Beach businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Banco Popular North America that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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