Where to Get Capital for Full-Service Restaurants

Looking for small business loans for full-service restaurants? Talk to a banker who works with the SBA. This $150,000 full-service restaurants loan was issued by a Massachusetts bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pembroke (pembroke Center), Massachusetts was able to borrow $150,000 from Rockland Trust Company. The SBA made the loan possible by guaranteeing $127,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PEMBROKE (PEMBROKE CENTER), MA 02359

SBA Loan Lender

ROCKLAND TRUST COMPANY
288 UNION ST
ROCKLAND, MA 02370

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

11/9/2004

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. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 31 employees. The SBA loan documents indicated that the loan would help generate 31 new jobs and retain 31 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Business Incubators

SBA Participating Banks in Rockland, Massachusetts

Getting a Business Loan in Massachusetts