How to Get a Loan for Full-Service Restaurants

Looking for business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $74,000 full-service restaurants loan was issued by a Massachusetts bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Bank - Western Massachusetts, out of Springfield, Massachusetts. The loan was granted and they received $74,000 to help grow their Erving, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ERVING, MA 01344

SBA Loan Lender

BANK - WESTERN MASSACHUSETTS
1391 MAIN ST, 3RD FL
SPRINGFIELD, MA 01103

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/8/2004

Loan Approval Gross Amount

$74,000

Loan Approval from the SBA

Of the total $74,000 loan amount, the SBA guaranteed $55,500.

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 only one employee. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bank - Western Massachusetts and they will explain how you can get an SBA loan for your company.

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:

SBIR Funding

SBA 7A Banks for Springfield, Massachusetts Loans

Getting a Business Loan in Massachusetts