SBA Loans for Limited-Service Restaurants

Looking for SBA loans for limited-service restaurants? The SBA may be the answer. This $257,000 limited-service restaurants loan was issued by a Massachusetts bank.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Hometown Bank A Co-Operative B, out of Webster, Massachusetts. The loan was granted and they received $257,000 to help grow their Millbury, Massachusetts business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MILLBURY, MA 01527

SBA Loan Lender

HOMETOWN BANK A CO-OPERATIVE B
218 MAIN ST
WEBSTER, MA 01570

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/27/2006

Loan Approval Gross Amount

$257,000

Loan Approval from the SBA

Of the total $257,000 loan amount, the SBA guaranteed $192,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Hometown Bank A Co-Operative B so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Getting a Small Business Loan

SBA Banks in Webster, Massachusetts

Getting a Business Loan in Massachusetts