Bank Loans for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $100,000 limited-service restaurants loan was issued by a New York bank.

This company knew how to go about getting a business bank loan. Based in Cooperstown, New York, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Nbt Bank, National Association, based in Norwich, New York.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
COOPERSTOWN, NY 13326

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
52 S BROAD ST
NORWICH, NY 13815

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/30/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Cooperstown NY, you ought to talk with a local Cooperstown SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Cooperstown businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Nbt Bank, National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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