Full-Service Restaurants Commercial Loans

Looking for commercial loans for full-service restaurants? The SBA may be the answer. This $30,000 full-service restaurants loan was issued by a New Hampshire bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hampton (census Name For Hampt, New Hampshire was able to borrow $30,000 from Ocean Bank. The SBA made the loan possible by guaranteeing $15,000 of this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
HAMPTON (CENSUS NAME FOR HAMPT, NH 03842

SBA Loan Lender

OCEAN BANK
122 WEST ST
KEENE, NH 03431

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

10/22/2002

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 110 employees. This SBA loan request indicated that the loan would help generate 10 new jobs and retain 110 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

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 Ocean Bank 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.

Related Links:

How to Raise Money

Small Bank Loans in Keene, New Hampshire

SBA Lenders in New Hampshire