Commercial Loans for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? Talk to a banker who works with the SBA. This $250,000 full-service restaurants loan was issued by a New York bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Abacus Federal Savings Bank, out of New York City, New York. The loan was granted and they received $250,000 to help grow their New York, New York business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NEW YORK, NY 10011

SBA Loan Lender

ABACUS FEDERAL SAVINGS BANK
6-8 BOWERY
NEW YORK CITY, NY 10013

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/6/2002

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $187,500.

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 25 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you have been wondering how do i get money to start a business in New York NY, you ought to talk with a local New York SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New York businesses.

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

Related Links:

Obtaining Funding - How to Borrow Money

Best New York City, New York Banks for Small Business

New York SBA 7A Banks