Full-Service Restaurants SBA Loans

Looking for SBA loans for full-service restaurants? Talk to a banker who works with the SBA. This $111,250 full-service restaurants loan was issued by a New York bank.

This small business knew how to go about getting a business bank loan. Based in Rhinebeck, New York, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Rhinebeck Savings Bank, based in Rhinebeck, New York.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
RHINEBECK, NY 12572

SBA Loan Lender

RHINEBECK SAVINGS BANK
6414 MONTGOMERY ST
RHINEBECK, NY 12572

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

4/12/2002

Loan Approval Gross Amount

$111,250

Loan Approval from the SBA

Of the total $111,250 loan amount, the SBA guaranteed $94,562.

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 10 employees. The loan application did not indicate that the company planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My 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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Who Lends Money to Small Businesses in Rhinebeck, New York

Getting an SBA Loan in New York