Full-Service Restaurants Loans

With these loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $155,000 was given to a Rhode Island entrepreneur in 2000.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pawtucket, Rhode Island was able to borrow $155,000 from Domestic Bank. The SBA made the loan possible by guaranteeing $116,250 of this Rhode Island small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PAWTUCKET, RI 02860

SBA Loan Lender

DOMESTIC BANK
815 RESERVOIR AVE
CRANSTON, RI 02910

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to our country's hard-working small business owners.

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

11/16/2000

Loan Approval Gross Amount

$155,000

Loan Approval from the SBA

Of the total $155,000 loan amount, the SBA guaranteed $116,250.

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 36 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

The Art of Bootstrapping

Banks in Cranston, Rhode Island

Rhode Island SBA 7A Lenders