Get an SBA Loan for Full-Service Restaurants

Looking for loans for full-service restaurants? The SBA may be the answer. This $53,000 full-service restaurants loan was issued by a New York bank.

This company knew how to go about getting a business bank loan. Based in Perry, New York, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Five Star Bank, based in Warsaw, New York.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PERRY, NY 14530

SBA Loan Lender

FIVE STAR BANK
55 N MAIN ST
WARSAW, NY 14569

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/1/2004

Loan Approval Gross Amount

$53,000

Loan Approval from the SBA

Of the total $53,000 loan amount, the SBA guaranteed $39,750.

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 16 employees. The SBA loan documents did not indicate that the business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $53,000 loan. Remember, you control your own destiny.

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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