How to Get a Loan for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $150,000 was given to a New York entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Cheektowaga, New York was able to borrow $150,000 from Northwest Savings Bank. The SBA made the loan possible by guaranteeing $127,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CHEEKTOWAGA, NY 14225

SBA Loan Lender

NORTHWEST SAVINGS BANK
4545 TRANSIT RD, STE 500, EAS
WILLIAMSVILLE, NY 14221

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/13/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 25 employees. This SBA loan request did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Cheektowaga NY, you ought to talk with a local Cheektowaga SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cheektowaga businesses.

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.

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