Raising Money for Full-Service Restaurants

Looking for bank loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $51,500 full-service restaurants loan was issued by a Virginia bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with First Bank, out of Strasburg, Virginia. The loan was granted and they received $51,500 to help grow their Gore, Virginia business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
GORE, VA 22637

SBA Loan Lender

FIRST BANK
112 W KING ST
STRASBURG, VA 22657

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

7/13/2001

Loan Approval Gross Amount

$51,500

Loan Approval from the SBA

Of the total $51,500 loan amount, the SBA guaranteed $43,775.

More Information on This SBA Loan

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

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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Who Lends Money to Small Businesses in Strasburg, Virginia

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