Full-Service Restaurants Business Loans

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $1,140,000 was given to an Alabama entrepreneur in 2002.

This small business knew how to go about getting a business bank loan. Based in Birmingham, Alabama, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Regions Bank, based in Birmingham, Alabama.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BIRMINGHAM, AL 35235

SBA Loan Lender

REGIONS BANK
1900 5TH AVE NORTH
BIRMINGHAM, AL 35203

This business loan was issued under the SBA's Certified Lenders Program (CLP), which means that this lending institution has a successful SBA lending track record and are well trained in SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/8/2002

Loan Approval Gross Amount

$1,140,000

Loan Approval from the SBA

Of the total $1,140,000 loan amount, the SBA guaranteed $855,000.

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 21 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Birmingham AL, you ought to talk with a local Birmingham SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Birmingham 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 Regions 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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