Grow America Fund Inc SBA Loan to Cafeterias, Grill Buffets, And Buffets Company

An SBA loan from Grow America Fund Inc typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a New York, New York business owner got a $60,000 loan.

This growing company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Grow America Fund Inc, out of New York, New York. The loan was granted and they received $60,000 to help grow their New York, New York business.

SBA Loan Borrower

COMPANY TYPE: CAFETERIAS, GRILL BUFFETS, AND BUFFETS
NEW YORK, NY 10033

SBA Loan Lender

GROW AMERICA FUND INC
708 THIRD AVENUE, SUITE 710
NEW YORK, NY 10017

This lender provides SBA debt financing 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

722212 - Cafeterias, Grill Buffets, and Buffets

Loan Approval Date

2/23/2001

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

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 only one employee. The SBA loan application for the borrower indicated that the funding would help create 5 new jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Grow America Fund Inc and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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