Small Business Loans for Full-Service Restaurants

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $185,700 was given to a Vermont entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Barre, Vermont was able to borrow $185,700 from Community National Bank. The SBA made the loan possible by guaranteeing $139,275 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BARRE, VT 05641

SBA Loan Lender

COMMUNITY NATIONAL BANK
4811 US RTE 5
DERBY, VT 05829

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

7/27/2005

Loan Approval Gross Amount

$185,700

Loan Approval from the SBA

Of the total $185,700 loan amount, the SBA guaranteed $139,275.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 11 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Getting a Small Business Loan

SBA 7A Lenders in Derby, Vermont

Vermont SBA 7A Banks