Full-Service Restaurants Business Loans
Looking for business loans for full-service restaurants? The SBA may be the answer. This $110,000 full-service restaurants loan was issued by a California bank.
Getting a small business loan in Menlo Park, California was important for this small business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Heritage Bank Of Commerce, operating out of San Jose, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
MENLO PARK, CA 94025
SBA Loan Lender
HERITAGE BANK OF COMMERCE
150 ALMADEN BLVD
SAN JOSE, CA 95113
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
7/19/2002
Loan Approval Gross Amount
$110,000
Loan Approval from the SBA
Of the total $110,000 loan amount, the SBA guaranteed $82,500.
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 17 employees. The SBA loan documents indicated that the loan would help retain 17 existing jobs.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Heritage Bank Of Commerce and they will explain how you can get an SBA loan for your company.
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:
Attracting Investors
Where to Get an SBA Loan in San Jose, California
SBA California Lenders