Loans for Full-Service Restaurants

Looking for loans for full-service restaurants? Try the SBA. This $60,840 full-service restaurants loan was issued by a Tennessee bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Regions Bank, out of Memphis, Tennessee. The loan was granted and they received $60,840 to help grow their St. Peters, Missouri business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ST. PETERS, MO 63376

SBA Loan Lender

REGIONS BANK
6200 POPLAR AVE
MEMPHIS, TN 38119

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/16/2002

Loan Approval Gross Amount

$60,840

Loan Approval from the SBA

Of the total $60,840 loan amount, the SBA guaranteed $51,714.

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 5 employees. The loan application did not indicate that the business promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Regions Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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