Get an SBA Loan for Full-Service Restaurants

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $150,000 was given to a New York entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oneonta, New York was able to borrow $150,000 from Nbt Bank, National Association. The SBA made the loan possible by guaranteeing $127,500 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ONEONTA, NY 13820

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
1 WALL ST
ONEONTA, NY 13820

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

9/26/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great way to raise money

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Nbt Bank, National Association so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 Decide How Much to Raise

Where to Get an SBA Loan in Oneonta, New York

SBA New York Banks