Business Loans for Limited-Service Restaurants

Looking for business loans for limited-service restaurants? Try the SBA. This $110,000 limited-service restaurants loan was issued by a New York bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hicksville, New York was able to borrow $110,000 from Flushing Savings Bank, Fsb. The SBA made the loan possible by guaranteeing $55,000 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
HICKSVILLE, NY 11801

SBA Loan Lender

FLUSHING SAVINGS BANK, FSB
33 IRVING PL
NEW YORK CITY, NY 10003

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722211 - Limited-Service Restaurants

Loan Approval Date

2/16/2007

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $55,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 3 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a company in Hicksville NY, you ought to talk with a local Hicksville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hicksville businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Financing Your Business

Where to Get an SBA Loan in New York City, New York

SBA New York Banks