How to Get a Loan for Caterers

With these business loans for caterers, the SBA guarantees the lender that the loan will be repaid. This caterers loan for $72,400 was given to a Connecticut entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in South Glastonbury, Connecticut was able to borrow $72,400 from Bank Of America. The SBA made the loan possible by guaranteeing $36,200 of this Connecticut small business loan.

SBA Loan Borrower

COMPANY TYPE: CATERERS
SOUTH GLASTONBURY, CT 06073

SBA Loan Lender

BANK OF AMERICA
111 WESTMINSTER ST
PROVIDENCE, RI 02903

This lender processed this commercial 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

722320 - Caterers

Loan Approval Date

9/26/2002

Loan Approval Gross Amount

$72,400

Loan Approval from the SBA

Of the total $72,400 loan amount, the SBA guaranteed $36,200.

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 4 employees. The SBA loan application for the borrower indicated that the loan would help retain 4 existing jobs.

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $72,400 loan. Remember, you control your own destiny.

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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