Getting an SBA Loan for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? The SBA may be the answer. This $53,000 full-service restaurants loan was issued by a New York bank.

This business knew how to go about getting a business bank loan. Based in Saratoga Springs, New York, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was The Adirondack Trust Company, based in Saratoga Springs, New York.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SARATOGA SPRINGS, NY 12020

SBA Loan Lender

THE ADIRONDACK TRUST COMPANY
473 BROADWAY
SARATOGA SPRINGS, NY 12866

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722110 - Full-Service Restaurants

Loan Approval Date

1/9/2006

Loan Approval Gross Amount

$53,000

Loan Approval from the SBA

Of the total $53,000 loan amount, the SBA guaranteed $26,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 13 employees. The SBA loan application for the borrower indicated that the loan would help generate 19 new jobs and retain 13 existing jobs.

Getting an SBA Loan For Your Business

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

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like The Adirondack Trust Company and they will explain how you can get an SBA loan for your company.

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 - How to Borrow Money

SBA 7A Banks for Saratoga Springs, New York Loans

New York SBA Bank Lenders