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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Salt Lake City, Business Loans > Amer Express Centurion Bk Salt Lake City Business Loans > Full-Service Restaurants Loan | ||||
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Raising Money in Truckee, California With SBA Loans
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Borrowing Money for Full-Service RestaurantsLooking for small business loans for full-service restaurants? Try the SBA. This $20,500 full-service restaurants loan was issued by an Utah bank. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Amer Express Centurion Bk, out of Salt Lake City, Utah. The loan was granted and they received $20,500 to help grow their Truckee, California business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender AMER EXPRESS CENTURION BK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/28/2003 Loan Approval Gross Amount $20,500 Loan Approval from the SBA Of the total $20,500 loan amount, the SBA guaranteed $10,250. 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 25 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 30 existing jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Amer Express Centurion Bk 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: Accountant's Role in Securing Financing SBA 7A Lenders in Salt Lake City, Utah Getting a Business Loan in Utah
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