Full-Service Restaurants Loans

Looking for loans for full-service restaurants? Talk to a banker who works with the SBA. This $415,000 full-service restaurants loan was issued by a Massachusetts bank.

This company knew how to go about getting a business bank loan. Based in Boston, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Mercantile Bank & Trust, based in Boston, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BOSTON, MA 02118

SBA Loan Lender

MERCANTILE BANK & TRUST
61 BROOKLINE AVE
BOSTON, MA 02215

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/27/2006

Loan Approval Gross Amount

$415,000

Loan Approval from the SBA

Of the total $415,000 loan amount, the SBA guaranteed $311,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. The loan application did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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SBA Participating Banks in Boston, Massachusetts

Getting an SBA Loan in Massachusetts