Business Loans for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $23,400 was given to a West Virginia entrepreneur in 2005.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Union Bank, Inc., out of Middlebourne, West Virginia. The loan was granted and they received $23,400 to help grow their New Martinsville, West Virginia business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NEW MARTINSVILLE, WV 26155

SBA Loan Lender

UNION BANK, INC.
103 DODD ST
MIDDLEBOURNE, WV 26149

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/9/2005

Loan Approval Gross Amount

$23,400

Loan Approval from the SBA

Of the total $23,400 loan amount, the SBA guaranteed $19,890.

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 6 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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