Raising Money for Full-Service Restaurants

With these bank loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $325,000 was given to a New Hampshire entrepreneur in 2005.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Ocean Bank, out of Portsmouth, New Hampshire. The loan was granted and they received $325,000 to help grow their Manchester, New Hampshire business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Manchester, NH 03101

SBA Loan Lender

OCEAN BANK
325 STATE ST
PORTSMOUTH, NH 03801

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/27/2005

Loan Approval Gross Amount

$325,000

Loan Approval from the SBA

Of the total $325,000 loan amount, the SBA guaranteed $243,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 45 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 45 existing jobs.

Getting an SBA Loan For Your Business

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Ocean 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.

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