Full-Service Restaurants Commercial Loans
Looking for commercial loans for full-service restaurants? Talk to a banker who works with the SBA. This $50,000 full-service restaurants loan was issued by a Colorado bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Telluride, Colorado was able to borrow $50,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $40,000 of this Colorado small business loan.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
TELLURIDE, CO 81435
SBA Loan Lender
U.S. BANK NATIONAL ASSOCIATION
238 E COLORADO AVE
TELLURIDE, CO 81435
This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.
SBA Loan Program Type
This loan was issued as a general business loan.
5812 - Eating Places
722110 - Full-Service Restaurants
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $40,000.
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 6 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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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SBA Approved Banks in Telluride, Colorado
SBA Lenders in Colorado