Loans for Full-Service Restaurants

Looking for loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $150,000 full-service restaurants loan was issued by a Pennsylvania bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Sovereign Bank, out of Wyomissing, Pennsylvania. The loan was granted and they received $150,000 to help grow their Cumberland (br. P.O.), Rhode Island business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
CUMBERLAND (BR. P.O.), RI 02864

SBA Loan Lender

SOVEREIGN BANK
1130 BERKSHIRE BLVD
WYOMISSING, PA 19610

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/10/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application indicated that the loan would help retain 3 existing jobs.

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Sovereign Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Small Bank Loans in Wyomissing, Pennsylvania

Where to Get an SBA Loan Pennsylvania