Limited-Service Restaurants Loans

Looking for loans for limited-service restaurants? Try the SBA. This $98,600 limited-service restaurants loan was issued by a Pennsylvania bank.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with The Huntington National Bank, out of Beaver, Pennsylvania. The loan was granted and they received $98,600 to help grow their New Brighton, Pennsylvania business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
NEW BRIGHTON, PA 15066

SBA Loan Lender

THE HUNTINGTON NATIONAL BANK
671 THIRD ST
BEAVER, PA 15009

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/8/2002

Loan Approval Gross Amount

$98,600

Loan Approval from the SBA

Of the total $98,600 loan amount, the SBA guaranteed $83,810.

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 3 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

While you may be able to borrow money from friends and family, 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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Getting an SBA Loan in Pennsylvania