Commercial Loans for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $70,000 full-service restaurants loan was issued by a West Virginia bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with City National Bank - W. Virginia, out of Charleston, West Virginia. The loan was granted and they received $70,000 to help grow their Inwood, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
INWOOD, WV 25428

SBA Loan Lender

CITY NATIONAL BANK - W. VIRGINIA
3601 MACCORKLE AVE SE
CHARLESTON, WV 25304

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/12/2003

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

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 15 employees. The SBA loan application for the borrower 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 loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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Who Lends Money to Small Businesses in Charleston, West Virginia

Getting an SBA Loan in West Virginia