Business Loans for Limited-Service Restaurants

Looking for business loans for limited-service restaurants? Try the SBA. This $350,000 limited-service restaurants loan was issued by a New York bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Cathay Bank, out of New York City, New York. The loan was granted and they received $350,000 to help grow their New York, New York business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
NEW YORK, NY 10036

SBA Loan Lender

CATHAY BANK
235 5TH AVE
NEW YORK CITY, NY 10016

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722211 - Limited-Service Restaurants

Loan Approval Date

7/12/2005

Loan Approval Gross Amount

$350,000

Loan Approval from the SBA

Of the total $350,000 loan amount, the SBA guaranteed $175,000.

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 38 employees. The loan application indicated that the loan would help generate 38 new jobs and retain 38 existing jobs.

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Cathay Bank and they will explain how you can get an SBA loan for your company.

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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