Limited-Service Restaurants Commercial Loans

Looking for commercial loans for limited-service restaurants? Talk to a banker who works with the SBA. This $140,000 limited-service restaurants loan was issued by a Kentucky bank.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Citizens National Bank - Paintsville, out of Ashland, Kentucky. The loan was granted and they received $140,000 to help grow their Huntington, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
HUNTINGTON, WV 25701

SBA Loan Lender

CITIZENS NATIONAL BANK - PAINTSVILLE
855 CENTRAL AVE
ASHLAND, KY 41101

This lender issued this particular SBA small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/16/2004

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 75 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This SBA loan was for $140,000. How would you spend $140,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

The Art of Bootstrapping

SBA Banks in Ashland, Kentucky

Getting an SBA Loan in Kentucky