Small Business Loans for Full-Service Restaurants
Looking for small business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $45,700 full-service restaurants loan was issued by a Rhode Island bank.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hamilton, Massachusetts was able to borrow $45,700 from Bank Of America. The SBA made the loan possible by guaranteeing $22,850 of this Massachusetts small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
HAMILTON, MA 01982
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
8/22/2002
Loan Approval Gross Amount
$45,700
Loan Approval from the SBA
Of the total $45,700 loan amount, the SBA guaranteed $22,850.
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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.
Getting an SBA Loan For Your Business
SBA loans provide money to small business owners for working capital for other expenses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $45,700 loan. Remember, feel the fear, and do it anyway.
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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