Financing for Full-Service Restaurants

Looking for loans for full-service restaurants? Try the SBA. This $105,300 full-service restaurants loan was issued by a New York bank.

This small firm 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 2001. The lending bank was Tompkins Trust Company, based in Ithaca, New York.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ITHACA, NY 14850

SBA Loan Lender

TOMPKINS TRUST COMPANY
110 N TIOGA ST, THE COMMONS
ITHACA, NY 14850

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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/20/2001

Loan Approval Gross Amount

$105,300

Loan Approval from the SBA

Of the total $105,300 loan amount, the SBA guaranteed $89,505.

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 45 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Small Business Credit Cards

SBA Banks in Ithaca, New York

Getting an SBA Loan in New York