Limited-Service Restaurants Loans

Looking for loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $40,000 limited-service restaurants loan was issued by a Rhode Island bank.

Getting a small business loan in Cranston, Rhode Island was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Banknewport, operating out of Middletown, Rhode Island. Here are the details on this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
CRANSTON, RI 02920

SBA Loan Lender

BANKNEWPORT
500 W MAIN RD
MIDDLETOWN, RI 02842

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/6/2005

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

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 5 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Banknewport 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.

Related Links:

The Friends and Family Network

Who Lends Money to Small Businesses in Middletown, Rhode Island

SBA Rhode Island Lenders