Where to Get Capital for Limited-Service Restaurants

Looking for SBA loans for limited-service restaurants? The SBA may be the answer. This $175,000 limited-service restaurants loan was issued by a West Virginia bank.

This business knew how to go about getting a business bank loan. Based in Bridgeport, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Progressive Bank, based in Wheeling, West Virginia.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BRIDGEPORT, OH 43912

SBA Loan Lender

PROGRESSIVE BANK
1701 WARWOOD AVE
WHEELING, WV 26003

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/26/2007

Loan Approval Gross Amount

$175,000

Loan Approval from the SBA

Of the total $175,000 loan amount, the SBA guaranteed $131,250.

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 22 employees. The SBA loan documents did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Progressive Bank and they will explain how you can get an SBA loan for your company.

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:

Advice on Getting a Small Business Loan

Small Bank Loans in Wheeling, West Virginia

Find an SBA Lender in West Virginia