Massachusetts Entrepreneur Secures Financing to Buy Ponderosa Steak House Franchise

Borrowing money to purchase a Ponderosa Steak House franchise? Slade's Ferry Trust Company has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Ponderosa Steak House franchise? If so, here's a 2000 SBA franchise loan that you should know about. Slade's Ferry Trust Company was the lender and the entrepreneur was based in Swansea, Massachusetts.

SBA Loan Borrower

PONDEROSA STEAKHOUSE
SWANSEA, MA 02777

SBA Loan Lender

SLADE'S FERRY TRUST COMPANY
100 SLADE'S FERRY AVE
SOMERSET, MA 02726

This lender issued this particular debt financing under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

12/8/2000

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $105,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Ponderosa Steak House franchise. At the time of the loan, the company had 70 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $140,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Ponderosa Steak House

Accountant's Role in Securing Financing

Small Business Banks in Somerset, Massachusetts

SBA Massachusetts Lenders