I’m sorry to say, but you can’t get an SBA loan to buy a property that has a restaurant and an apartment. This is the case even if you plan to run the restaurant. Even if the size of the apartment is small compared to the restaurant, residential real estate is not eligible for an SBA loan if it is unrelated to the business in the building.
But there are some situations where you can get an SBA loan to buy real estate with a residential component.
If the nature of your business requires that you have a resident owner or manager, and the residential space does not account for more than 49% of the total property it can be included in an SBA loan.
This would be the case if you had a horse training facility that requires someone on the property 24 hours a day to care for the horses.
Or maybe your property has a self storage facility requiring someone on the property 24 hours a day to give customers access to their lockers at all time.
In both of these examples the residential property would be considered part of the business and your building would be eligible for an SBA loan.
But if you want to buy a building with a restaurant and a rental apartment, your purchase wouldn’t be eligible for an SBA loan because you aren’t required to have someone living in the building to operate a restaurant.