Full-Service Restaurants Commercial Loans

Looking for commercial loans for full-service restaurants? Try the SBA. This $650,000 full-service restaurants loan was issued by an Illinois bank.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Banco Popular North America, out of Rosemont, Illinois. The loan was granted and they received $650,000 to help grow their Great Barrington, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GREAT BARRINGTON, MA 01230

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
9600 W BRYN MAWR
ROSEMONT, IL 60018

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/10/2006

Loan Approval Gross Amount

$650,000

Loan Approval from the SBA

Of the total $650,000 loan amount, the SBA guaranteed $487,500.

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 9 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in Great Barrington MA, you ought to talk with a local Great Barrington SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Great Barrington businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Banco Popular North America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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