Where to Get Capital for Full-Service Restaurants

With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $80,000 was given to a Pennsylvania entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pocono Lake, Pennsylvania was able to borrow $80,000 from Pennstar Bank, A Division Of. The SBA made the loan possible by guaranteeing $68,000 of this Pennsylvania small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
POCONO LAKE, PA 18437

SBA Loan Lender

PENNSTAR BANK, A DIVISION OF
409 LACKAWANNA AVE, STE 101
SCRANTON, PA 18503

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

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

2/22/2002

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pennstar Bank, A Division Of had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pennstar Bank, A Division Of made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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