Full-Service Restaurants Small Business Loans
Looking for small business loans for full-service restaurants? The SBA may be the answer. This $270,000 full-service restaurants loan was issued by a Louisiana bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lafayette, Louisiana was able to borrow $270,000 from Gulf Coast Bank. The SBA made the loan possible by guaranteeing $202,500 of this Louisiana small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
LAFAYETTE, LA 70503
SBA Loan Lender
GULF COAST BANK
221 S STATE ST
ABBEVILLE, LA 70510
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.
722110 - Full-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $270,000 loan amount, the SBA guaranteed $202,500.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 only one employee. The loan application indicated that the funding would help generate 70 new jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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 Gulf Coast 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.
Business Line of Credit
SBA Approved Banks in Abbeville, Louisiana
SBA Louisiana Banks