Limited-Service Restaurants SBA Loans

With these SBA loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $445,000 was given to a Massachusetts entrepreneur in 2002.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Danversbank, out of Danvers, Massachusetts. The loan was granted and they received $445,000 to help grow their Charlestown, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CHARLESTOWN, MA 02129

SBA Loan Lender

DANVERSBANK
1 CONANT ST
DANVERS, MA 01923

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

722211 - Limited-Service Restaurants

Loan Approval Date

12/3/2002

Loan Approval Gross Amount

$445,000

Loan Approval from the SBA

Of the total $445,000 loan amount, the SBA guaranteed $333,750.

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 2 employees. The SBA loan documents indicated that the loan would help generate 12 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Charlestown MA, you ought to talk with a local Charlestown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Charlestown businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Danversbank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Danversbank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in Danvers, Massachusetts

Getting an SBA Loan in Massachusetts