SBA Loans for Full-Service Restaurants

With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $123,200 was given to a New York entrepreneur in 2003.

This small business knew how to go about getting a business bank loan. Based in Elmira, New York, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was The Elmira Savings Bank, Fsb, based in Elmira, New York.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ELMIRA, NY 14905

SBA Loan Lender

THE ELMIRA SAVINGS BANK, FSB
333 E WATER ST
ELMIRA, NY 14901

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

9/15/2003

Loan Approval Gross Amount

$123,200

Loan Approval from the SBA

Of the total $123,200 loan amount, the SBA guaranteed $104,720.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 22 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

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.

This SBA loan was for $123,200. How would you spend $123,200 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

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Small Business Banks in Elmira, New York

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