Full-Service Restaurants Business Loans

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 $1,725,000 was given to a New York entrepreneur in 2007.

This business received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Shinhan Bank America, out of New York City, New York. The loan was granted and they received $1,725,000 to help grow their Oceanside, New York business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Oceanside, NY 11572

SBA Loan Lender

SHINHAN BANK AMERICA
330 FIFTH AVE, 4TH FL
NEW YORK CITY, NY 10016

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/7/2007

Loan Approval Gross Amount

$1,725,000

Loan Approval from the SBA

Of the total $1,725,000 loan amount, the SBA guaranteed $1,293,750.

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 only one employee. The loan application indicated that the loan would help generate 6 new jobs and retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This SBA loan was for $1,725,000. How would you spend $1,725,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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