Getting an SBA Loan for Drinking Places

With these SBA loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $142,500 was given to a New York entrepreneur in 2004.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Canandaigua National Bank & Trust, out of Canandaigua, New York. The loan was granted and they received $142,500 to help grow their Honeoye, New York business.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
HONEOYE, NY 14471

SBA Loan Lender

CANANDAIGUA NATIONAL BANK & TRUST
72 S MAIN ST
CANANDAIGUA, NY 14424

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

8/25/2004

Loan Approval Gross Amount

$142,500

Loan Approval from the SBA

Of the total $142,500 loan amount, the SBA guaranteed $121,125.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application did not indicate that the company promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Alternative Financing

SBA Banks in Canandaigua, New York

Where to Get an SBA Loan New York