Full-Service Restaurants SBA Loans

Looking for SBA loans for full-service restaurants? The SBA may be the answer. This $124,000 full-service restaurants loan was issued by a Massachusetts bank.

Getting a small business loan in Pittsfield, Massachusetts was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Lee Bank, operating out of Lee, Massachusetts. Here are the details on this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PITTSFIELD, MA 01201

SBA Loan Lender

LEE BANK
75 PARK ST
LEE, MA 01238

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/27/2006

Loan Approval Gross Amount

$124,000

Loan Approval from the SBA

Of the total $124,000 loan amount, the SBA guaranteed $105,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Lee Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Who Lends Money to Small Businesses in Lee, Massachusetts

Massachusetts SBA Banks