Loans for Limited-Service Restaurants

Looking for loans for limited-service restaurants? Talk to a banker who works with the SBA. This $98,000 limited-service restaurants loan was issued by a Vermont bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lyndonville, Vermont was able to borrow $98,000 from Passumpsic Savings Bank. The SBA made the loan possible by guaranteeing $78,400 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LYNDONVILLE, VT 05851

SBA Loan Lender

PASSUMPSIC SAVINGS BANK
497 RAILROAD ST
SAINT JOHNSBURY, VT 05819

This lender issued this SBA loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/16/2001

Loan Approval Gross Amount

$98,000

Loan Approval from the SBA

Of the total $98,000 loan amount, the SBA guaranteed $78,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 24 employees. The loan application indicated that the loan would help retain 24 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Passumpsic Savings Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

The Friends and Family Network

SBA Banks in Saint Johnsbury, Vermont

Vermont SBA 7A Banks