SBA Loan from Rhinebeck Savings Bank Helps Eating Places Company

Rhinebeck Savings Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Red Hook, New York was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Rhinebeck Savings Bank, operating out of Rhinebeck, New York. Here are the details on this New York small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
RED HOOK, NY 12571

SBA Loan Lender

RHINEBECK SAVINGS BANK
6414 MONTGOMERY ST
RHINEBECK, NY 12572

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/4/2002

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 19 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Rhinebeck Savings 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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