How to Get a Loan for Drinking Places
With these business loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $56,000 was given to a New York entrepreneur in 2001.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in New York, New York was able to borrow $56,000 from Bank Of America. The SBA made the loan possible by guaranteeing $28,000 of this New York small business loan.
SBA Loan Borrower
COMPANY TYPE: DRINKING PLACES
NEW YORK, NY 10001
SBA Loan Lender
BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903
This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
722410 - Drinking Places
Loan Approval Date
10/23/2001
Loan Approval Gross Amount
$56,000
Loan Approval from the SBA
Of the total $56,000 loan amount, the SBA guaranteed $28,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing 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 indicated that the loan would help generate 3 new jobs and retain 9 existing jobs.
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.
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.
Related Links:
Family and Friend Investors - Your First Financiers
SBA Approved Banks in Providence, Rhode Island
Getting an SBA Loan in Rhode Island