How to Get a Loan for Full-Service Restaurants

With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $219,300 was given to an Arizona entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tucson, Arizona was able to borrow $219,300 from Compass Bank. The SBA made the loan possible by guaranteeing $164,475 of this Arizona small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
TUCSON, AZ 85716

SBA Loan Lender

COMPASS BANK
15 S 20TH ST
BIRMINGHAM, AL 35233

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/6/2000

Loan Approval Gross Amount

$219,300

Loan Approval from the SBA

Of the total $219,300 loan amount, the SBA guaranteed $164,475.

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 52 employees. The SBA loan application for the borrower indicated that the loan would help retain 52 existing jobs.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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 $219,300 loan. Remember, you control your own destiny.

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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