How to Get a Loan for Drinking Places

Looking for SBA loans for drinking places? Try the SBA. This $367,500 drinking places loan was issued by a Rhode Island bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lowell, Massachusetts was able to borrow $367,500 from Home Loan Invest Bank F.S.B.. The SBA made the loan possible by guaranteeing $275,625 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
LOWELL, MA 01851

SBA Loan Lender

HOME LOAN INVEST BANK F.S.B.
1 HOME LOAN PLAZA, STE 3
WARWICK, RI 02886

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

4/28/2006

Loan Approval Gross Amount

$367,500

Loan Approval from the SBA

Of the total $367,500 loan amount, the SBA guaranteed $275,625.

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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

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.

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