Getting an SBA Loan for Full-Service Restaurants

With these commercial loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $100,000 was given to a Missouri entrepreneur in 2005.

Cg Cupp Properties, L.L.C. received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Arvest Bank, out of Tulsa, Oklahoma. The loan was granted and they received $100,000 to help grow their Joplin, Missouri business.

SBA Loan Borrower

CG Cupp Properties, L.L.C.
5030 S. Rangeline
Joplin, MO 64804

SBA Loan Lender

ARVEST BANK
3409 S PEORIA AVE, STE 1
TULSA, OK 74105

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/29/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower, Cg Cupp Properties, L.L.C., borrowed this money for a new business. The SBA's record indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 40 new jobs and retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. Cg Cupp Properties, L.L.C. needed a loan. Arvest 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, Arvest Bank made the loan. The end result was that Cg Cupp Properties, L.L.C. 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:

A Company That Helps Entrepreneurs

Banks in Tulsa, Oklahoma

SBA Participating Banks in Oklahoma

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