Raising Money for Full-Service Restaurants

Looking for business loans for full-service restaurants? The SBA may be the answer. This $25,000 full-service restaurants loan was issued by a Rhode Island bank.

This small business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bank Rhode Island, out of Providence, Rhode Island. The loan was granted and they received $25,000 to help grow their East Providence, Rhode Island business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
EAST PROVIDENCE, RI 02914

SBA Loan Lender

BANK RHODE ISLAND
ONE TURKS HEAD PLACE
PROVIDENCE, RI 02903

This SBA 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

11/8/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 6 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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