Raising Money for Full-Service Restaurants

With these business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $56,000 was given to a New York entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Queensbury, New York was able to borrow $56,000 from The Adirondack Trust Company. The SBA made the loan possible by guaranteeing $47,600 of this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
QUEENSBURY, NY 12804

SBA Loan Lender

THE ADIRONDACK TRUST COMPANY
473 BROADWAY
SARATOGA SPRINGS, NY 12866

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

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

3/8/2004

Loan Approval Gross Amount

$56,000

Loan Approval from the SBA

Of the total $56,000 loan amount, the SBA guaranteed $47,600.

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 15 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds 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.

We can help you find the best banks for small businesses in Queensbury or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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