Getting an SBA Loan for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? Try the SBA. This $279,000 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 Pittsfield, Massachusetts was able to borrow $279,000 from Greylock Fcu. The SBA made the loan possible by guaranteeing $139,500 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PITTSFIELD, MA 01201

SBA Loan Lender

GREYLOCK FCU
150 WEST ST
PITTSFIELD, MA 01201

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/29/2004

Loan Approval Gross Amount

$279,000

Loan Approval from the SBA

Of the total $279,000 loan amount, the SBA guaranteed $139,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 12 existing jobs.

Getting an SBA Loan For Your Business

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.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Greylock Fcu are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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 Line of Credit

Small Bank Loans in Pittsfield, Massachusetts

Getting an SBA Loan in Massachusetts