How to Get a Loan for Full-Service Restaurants

Looking for business loans for full-service restaurants? Talk to a banker who works with the SBA. This $10,000 full-service restaurants loan was issued by a Rhode Island bank.

This small business knew how to go about getting a business bank loan. Based in Milford, Connecticut, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Bank Of America, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MILFORD, CT 06460

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

11/28/2000

Loan Approval Gross Amount

$10,000

Loan Approval from the SBA

Of the total $10,000 loan amount, the SBA guaranteed $5,000.

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 15 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

Next Steps for Getting an SBA Loan

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

While you may be able to find business people willing to loan money, 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:

Small Business Credit Cards

Who Lends Money to Small Businesses in Providence, Rhode Island

SBA Participating Banks in Rhode Island