How to Get a Loan for Full-Service Restaurants

Looking for business loans for full-service restaurants? Try the SBA. This $50,000 full-service restaurants loan was issued by a Massachusetts bank.

This small business knew how to go about getting a business bank loan. Based in Lenox (census Name For Lenox C, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Greylock Fcu, based in Pittsfield, Massachusetts.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LENOX (CENSUS NAME FOR LENOX C, MA 01240

SBA Loan Lender

GREYLOCK FCU
150 WEST ST
PITTSFIELD, MA 01201

This SBA business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/11/2005

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 12 employees. This SBA loan request indicated that the loan would help retain 12 existing jobs.

Great, But How Can I Get an SBA Loan for My 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 find other ways to get money to start a business, 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:

Bank Credit Lines

Banks in Pittsfield, Massachusetts

Massachusetts SBA 7A Lenders