Borrowing Money for Full-Service Restaurants

Looking for small business loans for full-service restaurants? The SBA may be the answer. This $475,000 full-service restaurants loan was issued by a Texas bank.

Food Nation Corp 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 2007. The lending bank was Metrobank, based in Houston, Texas.

SBA Loan Borrower

FOOD NATION CORP
15221 NATURAL SPRINGS WAY
AUSTIN, TX 78728

SBA Loan Lender

METROBANK
9600 BELLAIRE BLVD
HOUSTON, TX 77036

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/20/2007

Loan Approval Gross Amount

$475,000

Loan Approval from the SBA

Of the total $475,000 loan amount, the SBA guaranteed $356,250.

More Information on This SBA Loan

The borrower, Food Nation Corp, 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 2 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. If a firm like Food Nation Corp is able to get a $475,000 loan, why not give getting an SBA loan of your own a try?

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's SBA loan database.

Related Links:

Advice on Getting a Small Business Loan

SBA 7A Banks in Houston, Texas

Getting an SBA Loan in Texas

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