It sounds like a solid plan, But if the financial situation is anything like it is today, I wish you the best of luck getting the loan.
I am glad you have experience, this means you know what you're getting into. So many people think restaurant op's are easy and they just run themselves , those are the same people that fail horribly.
The SBA is great, but they currently cannot force banks to lend, or lend directly. But the SBA will guarantee a large percentage of the loan that a bank may make to you, but not too many banks like dealing with the SBA. The SBA limits the banks interest rates, creates tons of other restrictions, and triples the amount of paperwork.
I could go on for hours about banks and the SBA right about now because of the 4 months of crap I had dealt with while getting my place open. It finally came down to me not getting any financing, and doing this with the limited amount of cash I had on hand. (We are opening on Friday June 4th)
Consider I am a profitable existing business, and needed a loan to expand, and I have 20+ years in the industry with $800K in collateral. I was absolutely floored that I could not get a measely $100K loan with the SBA doing a guarantee of 90% on that loan.