How to Get a Loan for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $1,710,000 was given to a Florida entrepreneur in 2005.

Christabelle's Quarter knew how to go about getting a business bank loan. Based in Miami, Florida, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was 1st United Bank, based in Boca Raton, Florida.

SBA Loan Borrower

CHRISTABELLE'S QUARTER
3157 COMMODORE PLAZA
MIAMI, FL 33133

SBA Loan Lender

1ST UNITED BANK
ONE NORTH FEDERAL HWY
BOCA RATON, FL 33432

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/19/2005

Loan Approval Gross Amount

$1,710,000

Loan Approval from the SBA

Of the total $1,710,000 loan amount, the SBA guaranteed $1,282,500.

More Information on This SBA Loan

The borrower, Christabelle's Quarter, borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 150 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If Christabelle's Quarter can get an SBA loan, there's no reason you can't get an SBA loan too. The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

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

Related Links:

Borrowing Money from Friends and Family

Small Bank Loans in Boca Raton, Florida

Florida SBA 7A Lenders

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