SBA Loans for Full-Service Restaurants

Looking for SBA loans for full-service restaurants? Talk to a banker who works with the SBA. This $110,000 full-service restaurants loan was issued by a Massachusetts bank.

This small business knew how to go about getting a business bank loan. Based in Dalton, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Legacy Bancorp, Inc., based in Pittsfield, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
DALTON, MA 01226

SBA Loan Lender

LEGACY BANCORP, INC.
99 NORTH ST
PITTSFIELD, MA 01201

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/3/2002

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 3 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start business in Dalton MA, you ought to talk with a local Dalton SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Dalton businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Legacy Bancorp, Inc. had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Legacy Bancorp, Inc. 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:

Investor Turnoffs

Banks in Pittsfield, Massachusetts

Find an SBA Lender in Massachusetts