Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Southland Credit Union SBA 7A Loans

 

 
Loan Census SBA Loan Info

Loans for Full-Service Restaurants

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $50,000 was given to a California entrepreneur in 2008.

This company received financial assistance through the SBA's lending programs back in 2008. They applied for an SBA loan with Southland Credit Union, out of Downey, California. The loan was granted and they received $50,000 to help grow their San Bernardino, California business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SAN BERNARDINO, CA 92410

SBA Loan Lender

SOUTHLAND CREDIT UNION
8545 FLORENCE AVE
DOWNEY, CA 90240

This lender processed this SBA business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/31/2008

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 14 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Southland Credit Union had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Southland Credit Union made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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