Borrowing Money for Full-Service Restaurants

Looking for bank loans for full-service restaurants? The SBA may be the answer. This $100,000 full-service restaurants loan was issued by a Rhode Island bank.

This small firm knew how to go about getting a business bank loan. Based in Granby, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GRANBY, CT 06035

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/4/2003

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 15 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 18 existing jobs.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Granby CT, you ought to talk with a local Granby SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Granby businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Family and Friend Investors - Your First Financiers

Who Lends Money to Small Businesses in Providence, Rhode Island

Getting a Business Loan in Rhode Island