Full-Service Restaurants Loans

Looking for loans for full-service restaurants? The SBA may be the answer. This $1,231,500 full-service restaurants loan was issued by a California bank.

This company received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Nara Bank, out of Los Angeles, California. The loan was granted and they received $1,231,500 to help grow their Huntington Beach, California business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
HUNTINGTON BEACH, CA 92646

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/9/2005

Loan Approval Gross Amount

$1,231,500

Loan Approval from the SBA

Of the total $1,231,500 loan amount, the SBA guaranteed $923,625.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the borrowed money would help create 15 new jobs.

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SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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