Raising Money for Limited-Service Restaurants

With these bank loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $127,000 was given to a Vermont entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in St. Johnsbury, Vermont was able to borrow $127,000 from Community National Bank. The SBA made the loan possible by guaranteeing $63,500 of this Vermont small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
ST. JOHNSBURY, VT 05819

SBA Loan Lender

COMMUNITY NATIONAL BANK
1033 BROAD ST
LYNDONVILLE, VT 05851

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722211 - Limited-Service Restaurants

Loan Approval Date

7/30/2003

Loan Approval Gross Amount

$127,000

Loan Approval from the SBA

Of the total $127,000 loan amount, the SBA guaranteed $63,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The loan application indicated that the loan would help retain 15 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

504 Loans

SBA 7A Banks for Lyndonville, Vermont Loans

SBA Lenders in Vermont