Loans for Full-Service Restaurants

Looking for loans for full-service restaurants? Try the SBA. This $150,000 full-service restaurants loan was issued by a New York bank.

This company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Progressive Cu, out of New York City, New York. The loan was granted and they received $150,000 to help grow their Seymour, Connecticut business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SEYMOUR, CT 06483

SBA Loan Lender

PROGRESSIVE CU
370 7TH AVE, STE 1400
NEW YORK CITY, NY 10001

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

722110 - Full-Service Restaurants

Loan Approval Date

8/16/2002

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 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 documents did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Seymour CT, you ought to talk with a local Seymour SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Seymour businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Progressive Cu 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:

Business Incubators

SBA 7A Lenders in New York City, New York

Getting an SBA Loan in New York