Getting an SBA Loan for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? Try the SBA. This $50,000 full-service restaurants loan was issued by a Pennsylvania bank.

Getting a small business loan in Pittsburgh, Pennsylvania was important for this business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Fidelity Savings Bank D/b/a Fide, operating out of Pittsburgh, Pennsylvania. Here are the details on this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
PITTSBURGH, PA 15205

SBA Loan Lender

FIDELITY SAVINGS BANK D/B/A FIDE
1009 PERRY HWY
PITTSBURGH, PA 15237

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

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

2/10/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 15 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Pittsburgh PA, you ought to talk with a local Pittsburgh SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pittsburgh businesses.

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:

Business Incubators

Small Business Banks in Pittsburgh, Pennsylvania

Getting an SBA Loan in Pennsylvania