Commercial Loans for Limited-Service Restaurants
Looking for commercial loans for limited-service restaurants? The SBA may be the answer. This $100,000 limited-service restaurants loan was issued by a Massachusetts bank.
This business knew how to go about getting a business bank loan. Based in Quincy, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Rockland Trust Company, based in Rockland, Massachusetts.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
QUINCY, MA 02170
SBA Loan Lender
ROCKLAND TRUST COMPANY
288 UNION ST
ROCKLAND, MA 02370
This lender processed this bank 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
722211 - Limited-Service Restaurants
Loan Approval Date
12/21/2006
Loan Approval Gross Amount
$100,000
Loan Approval from the SBA
Of the total $100,000 loan amount, the SBA guaranteed $50,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 25 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 33 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Rockland Trust Company that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
Obtaining Funding - Friends and Family
Find an SBA Lender in Rockland, Massachusetts
Massachusetts SBA 7A Banks