Borrowing Money for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? Talk to a banker who works with the SBA. This $47,500 limited-service restaurants loan was issued by a New York bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Nbt Bank, National Association, out of Clinton, New York. The loan was granted and they received $47,500 to help grow their Utica, New York business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
UTICA, NY 13502

SBA Loan Lender

NBT BANK, NATIONAL ASSOCIATION
1 KIRKLAND AVE
CLINTON, NY 13323

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/5/2001

Loan Approval Gross Amount

$47,500

Loan Approval from the SBA

Of the total $47,500 loan amount, the SBA guaranteed $40,375.

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 2 employees. The loan application did not indicate that the SBA funding recipient planned to use the money 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 Utica NY, you ought to talk with a local Utica SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Utica businesses.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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 From a Venture Capitalist

SBA 7A Banks in Clinton, New York

SBA New York Lenders