Where to Get Capital for Full-Service Restaurants

Looking for small business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $20,350 full-service restaurants loan was issued by a New York bank.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Wilber National Bank, out of Oneonta, New York. The loan was granted and they received $20,350 to help grow their Oneonta, New York business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ONEONTA, NY 13820

SBA Loan Lender

WILBER NATIONAL BANK
245 MAIN ST
ONEONTA, NY 13820

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

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

5/15/2001

Loan Approval Gross Amount

$20,350

Loan Approval from the SBA

Of the total $20,350 loan amount, the SBA guaranteed $17,297.

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 15 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wilber National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wilber National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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