Full-Service Restaurants Small Business Loans

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $167,000 was given to a New York entrepreneur in 2000.

This company knew how to go about getting a business bank loan. Based in Ithaca, New York, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was First Niagara Bank, based in Geneva, New York.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ITHACA, NY 14850

SBA Loan Lender

FIRST NIAGARA BANK
470 EXCHANGE ST
GENEVA, NY 14456

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

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

4/17/2000

Loan Approval Gross Amount

$167,000

Loan Approval from the SBA

Of the total $167,000 loan amount, the SBA guaranteed $125,250.

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 30 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

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Small Business Banks in Geneva, New York

SBA Lenders in New York