Financing for Full-Service Restaurants

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $350,000 was given to a Tennessee entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Nashville, Tennessee was able to borrow $350,000 from First Bank. The SBA made the loan possible by guaranteeing $262,500 of this Tennessee small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
NASHVILLE, TN 37011

SBA Loan Lender

FIRST BANK
615 MEMORIAL BLVD
MURFREESBORO, TN 37219

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

11/22/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $262,500.

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 80 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $350,000 loan. Remember, anyone can do it... so why not you?

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:

Alternative Financing

Who Lends Money to Small Businesses in Murfreesboro, Tennessee

Getting an SBA Loan in Tennessee