Loans for Limited-Service Restaurants

Looking for loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $62,000 limited-service restaurants loan was issued by a Pennsylvania bank.

This small firm knew how to go about getting a business bank loan. Based in Dushore, Pennsylvania, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was First Lib Bank & Trust A Divisio, based in Tunkhannock, Pennsylvania.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
DUSHORE, PA 18614

SBA Loan Lender

FIRST LIB BANK & TRUST A DIVISIO
198 E TIOGA ST
TUNKHANNOCK, PA 18657

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

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

11/10/2003

Loan Approval Gross Amount

$62,000

Loan Approval from the SBA

Of the total $62,000 loan amount, the SBA guaranteed $52,700.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

Related Links:

Equity Financing

Small Bank Loans in Tunkhannock, Pennsylvania

Pennsylvania SBA Bank Lenders