Raising Money 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 $235,000 was given to a Rhode Island entrepreneur in 2000.

This small business knew how to go about getting a business bank loan. Based in Newport, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2000. The lending bank was Washington Tr Co - Westerly, based in Providence, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
NEWPORT, RI 02840

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
180 WASHINGTON ST
PROVIDENCE, RI 02903

This loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/8/2000

Loan Approval Gross Amount

$235,000

Loan Approval from the SBA

Of the total $235,000 loan amount, the SBA guaranteed $176,250.

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 5 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Newport or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

How to Raise Money

Banks in Providence, Rhode Island

Rhode Island SBA 7A Banks