How much in SBA loans can you get for a restaurant?

SBA 7(a) and 504 loans come with maximums of $5 million that you can use to grow or start your restaurant. Other loans have smaller maximums. 

Can I get an SBA loan if I just started a restaurant?

In many cases, yes, as long as you have a few months in business and can demonstrate a strong business plan, you can get approved. You just might have to be willing to put up collateral.

Do SBA loans require a personal guarantee for restaurant start-ups?

Yes, many (but not all) SBA loans typically require a personal guarantee for restaurant start-ups. This means that the owners of the restaurant must agree to be personally responsible for the loan in the case of a default. Since the business is so new, a personal guarantee often acts as a form of collateral. 

Is the SBA Restaurant Revitalization fund still available?

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Christopher Murray

Christopher Murray

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Christopher Murray is a professional personal finance and sustainability writer and editor who enjoys writing about everything from budgeting and saving to unique investing options like SRI and cryptocurrency.

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