Borrowing Money for Full-Service Restaurants

Looking for bank loans for full-service restaurants? The SBA may be the answer. This $200,000 full-service restaurants loan was issued by a Texas bank.

Ciolas Italian Food Ventures, knew how to go about getting a business bank loan. Based in Austin, Texas, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Prosperity Bank, based in Austin, Texas.

SBA Loan Borrower

CIOLAS ITALIAN FOOD VENTURES,
803 HURST CREEK ROAD
AUSTIN, TX 78734

SBA Loan Lender

PROSPERITY BANK
900 CONGRESS AVE
AUSTIN, TX 78701

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and are well trained in SBA policies and procedures.

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

6/27/2001

Loan Approval Gross Amount

$200,000

Loan Approval from the SBA

Of the total $200,000 loan amount, the SBA guaranteed $150,000.

More Information on This SBA Loan

The borrower, Ciolas Italian Food Ventures,, 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 only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. This loan was paid in full, and was closed out on 1/24/2008.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Ciolas Italian Food Ventures, needed a loan. Prosperity Bank probably wouldn't have granted the loan based on the merits of the company, but with the SBA stepping up and agreeing to guarantee part of the loan, Prosperity Bank made the loan. The end result was that Ciolas Italian Food Ventures, 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 SBA loan database.

Related Links:

Obtaining Funding From a Venture Capitalist

SBA Banks in Austin, Texas

SBA Texas Banks

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.